GE Capital to price dollar notes in four parts and possible euro deal

By Rebecca Melvin

New York, May 6 – General Electric Co. announced that GE Capital plans to price four dollar-denominated tranches of notes (Baa1/BBB+/BBB), and possibly a euro-denominated offering may follow.

The proceeds are expected to be used to fund a tender of up to an equivalent amount of GE Capital bonds maturing through 2023. Any excess proceeds will be used to repurchase, redeem or repay outstanding debt, including upcoming maturities of outstanding notes. The combination of these transactions is expected to be leverage-neutral over time.

The debt will be issued by GE Capital Funding, LLC, a newly formed finance subsidiary of GE Capital, and guaranteed by General Electric.

GE is a Fairfield, Conn.-based industrial manufacturer.

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