By Andrea Heisinger
New York, Dec. 21 - General Electric Capital Corp. sold $75 million of three-year fixed-to-floating-rate notes, according to an FWP filing with the Securities and Exchange Commission.
The notes (Aa2/AA+/) have a coupon of 1.5% with a price of par to yield 1.5% from Dec. 29 up to Dec. 29, 2012. After that date they have a floating rate of Libor plus 80 basis points, payable quarterly.
The notes are non-callable.
Barclays Capital Inc. was the bookrunner.
The funding arm of General Electric Co. is based in Norwalk, Conn.
| Issuer: | General Electric Capital Corp.
|
| Issue: | Fixed-to-floating-rate notes
|
| Amount: | $75 million
|
| Maturity: | Dec. 29, 2014
|
| Bookrunner: | Barclays Capital Inc.
|
| Coupon: | 1.5% up to Dec. 29, 2012, after at Libor plus 80 bps
|
| Price: | Par
|
| Yield: | 1.5% up to Dec. 29, 2012, after at Libor plus 80 bps
|
| Call: | Non-callable
|
| Distribution: | Off shelf
|
| Trade date: | Dec. 20
|
| Settlement date: | Dec. 29
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA+
|
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