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GE Capital offers at least $250 million $25-par 40-year senior notes; price talk at 4.75%-4.875%
By Stephanie N. Rotondo
Phoenix, May 9 - General Electric Capital Corp. intends to price at least $250 million of $25-par senior notes due May 16, 2053, according to a market source.
Price talk on the notes (expected ratings: A1/AA+) is 4.75% to 4.875%.
Morgan Stanley & Co. LLC, BofA Merrill Lynch, UBS Securities LLC and Wells Fargo Securities LLC are the joint bookrunners.
Interest will be payable on the 16th day of February, May, August and November, beginning Aug. 16. The notes become callable at par plus accrued interest on or after May 16, 2018.
Proceeds will be used for general corporate purposes.
GE Capital is a Norwalk, Conn.-based wholly owned subsidiary of General Electric and a provider of a select range of financial services and products.
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