Midday Commentary: General Electric Capital notes trading tighter in secondary market

By Aleesia Forni

Virginia Beach, Va., April 1 - General Electric Capital Corp.'s $1 billion of 1.625% five-year notes were trading 2 basis points tighter on Monday, one trader said.

The notes were quoted at 97 bps bid, 93 bps offered on Monday. The notes were sold with a spread of 90 bps over Treasuries on March 25.

The sale also included $400 million of five-year floating-rate notes priced at par to yield Libor plus 71 bps.

The funding arm of General Electric Co. is based in Norwalk, Conn.

Meanwhile, the Markit CDX Series 20 North American Investment Grade index was unchanged at a spread of 90 bps.

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