By Andrea Heisinger
New York, April 4 - General Electric Capital Corp. priced $1.5 billion of three-year floating-rate notes on Monday at par to yield three-month Libor plus 63 basis points, said a source away from the deal.
The notes were sold at the tight end of guidance, which was in the Libor plus 65 bps area, a source said.
The notes (Aa2/AA+/) are non-callable.
Bookrunners were Barclays Capital Inc., Deutsche Bank Securities Inc. and Merrill Lynch.
The funding arm of General Electric Co. is based in Fairfield, Conn.
| Issuer: | General Electric Capital Corp.
|
| Issue: | Floating-rate notes
|
| Amount: | $1.5 billion
|
| Maturity: | April 7, 2014
|
| Bookrunners: | Barclays Capital Inc., Deutsche Bank Securities Inc., Merrill Lynch
|
| Coupon: | Three-month Libor plus 63 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 63 bps
|
| Call: | Non-callable
|
| Trade date: | April 4
|
| Settlement date: | April 7
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA+
|
| Price talk: | Libor plus 65 bps area
|
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