By Aleesia Forni
Virginia Beach, Jan. 8 - General Electric Capital Corp. priced $3 billion of senior notes (A1/AA+/) in three tranches on Wednesday, according to an informed source.
The company priced $1.5 billion of two-year floaters at par to yield Libor plus 23 basis points.
There was also $1 billion of 2.3% five-year notes priced with a spread of Treasuries plus 57 bps.
A third tranche was $500 million of five-year floating-rate notes priced at par to yield Libor plus 51 bps.
The notes due 2016 and the floaters due 2019 both priced tighter than talk.
BofA Merrill Lynch, Barclays, Citigroup Global Markets Inc. and HSBC Securities (USA) LLC were the joint bookrunners.
The funding arm of General Electric Co. is based in Norwalk, Conn.
| Issuer: | General Electric Capital Corp.
|
| Guarantor: | General Electric Co.
|
| Issue: | Senior notes
|
| Amount: | $3 billion
|
| Bookrunners: | BofA Merrill Lynch, Barclays, Citigroup Global Markets Inc., HSBC Securities (USA) LLC
|
| Trade date: | Jan. 8
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: AA+
|
|
|
| Floaters due 2016
|
| Amount: | $1.5 billion
|
| Maturity: | Jan. 14, 2016
|
| Coupon: | Libor plus 23 bps
|
| Price: | Par
|
| Yield: | Libor plus 23 bps
|
| Price talk: | Libor plus 25 bps area
|
|
|
| Notes due 2019
|
| Amount: | $1 billion
|
| Maturity: | Jan. 14, 2019
|
| Coupon: | 2.3%
|
| Spread: | Treasuries plus 57 bps
|
| Price talk: | Treasuries plus 60 bps
|
|
|
| Floaters due 2019
|
| Amount: | $500 million
|
| Maturity: | Jan. 14, 2019
|
| Coupon: | Libor plus 51 bps
|
| Price: | Par
|
| Yield: | Libor plus 51 bps
|
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