By Cristal Cody
Tupelo, Miss., June 8 – GE Capital Global Holdings, LLC subsidiary GE Capital Funding, LLC priced a $1.5 billion tap of its 4.4% senior notes due May 15, 2030 (Baa1/BBB+/BBB) on Monday at 105.074, according to a news release.
Initial price talk was at the Treasuries plus 295 basis points area.
The company first sold $1.4 billion of the 4.4% notes on May 6 at a spread of 370 bps over Treasuries. The total outstanding is now $2.9 billion.
Morgan Stanley & Co. LLC was the bookrunner of the private offering.
The notes are guaranteed by General Electric Co.
GE Capital Funding is a financing arm of the Boston-based industrial manufacturer.
| Issuer: | GE Capital Funding, LLC
|
| Guarantor: | General Electric Co.
|
| Amount: | $1.5 billion reopening
|
| Maturity: | May 15, 2030
|
| Description: | Senior notes
|
| Bookrunner: | Morgan Stanley & Co. LLC
|
| Coupon: | 4.4%
|
| Price: | 105.074
|
| Trade date: | June 8
|
| Settlement date: | June 15
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB+
|
| Fitch: BBB
|
| Price guidance: | Treasuries plus 295 bps area
|
| Distribution: | Private
|
| Total outstanding: | $2.9 billion, including $1.4 billion of notes priced May 6 at a Treasuries plus 370 bps spread
|
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