By Andrea Heisinger
New York, June 27 - General Electric Capital Corp. sold $1.5 billion of three-year notes (A1/AA+/) in two parts on Wednesday, an informed source said.
A $1.2 billion tranche of 1.625% three-year notes priced at 99.915 to yield 1.654% with a spread of Treasuries plus 125 basis points.
The second part was $300 million of three-year floating-rate notes priced at par to yield Libor plus 103 bps.
Both tranches are non-callable.
Bookrunners were Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC.
The financial products and services provider is based in Norwalk, Conn.
| Issuer: | General Electric Capital Corp.
|
| Issue: | Notes
|
| Amount: | $1.5 billion
|
| Bookrunners: | Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC
|
| Trade date: | June 27
|
| Settlement date: | July 2
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: AA+
|
|
|
| Three-year notes
|
| Amount: | $1.2 billion
|
| Maturity: | July 2, 2015
|
| Coupon: | 1.625%
|
| Price: | 99.915
|
| Yield: | 1.654%
|
| Spread: | Treasuries plus 125 bps
|
| Call: | Non-callable
|
|
|
| Three-year floaters
|
| Amount: | $300 million
|
| Maturity: | July 2, 2015
|
| Coupon: | Libor plus 103 bps
|
| Price: | Par
|
| Yield: | Libor plus 103 bps
|
| Call: | Non-callable
|
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