By Cristal Cody
Tupelo, Miss., June 12 – 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 and a spread of 290 basis points over Treasuries, according to additional deal details from a market source.
Initial price talk was at the Treasuries plus 295 bps 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
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Guarantor: | General Electric Co.
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Amount: | $1.5 billion reopening
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Maturity: | May 15, 2030
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Description: | Senior notes
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Bookrunner: | Morgan Stanley & Co. LLC
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Coupon: | 4.4%
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Price: | 105.074
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Spread: | Treasuries plus 290 bps
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Trade date: | June 8
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Settlement date: | June 15
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Ratings: | Moody’s: Baa1
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| S&P: BBB+
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| Fitch: BBB
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Distribution: | Private
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Price guidance: | Treasuries plus 295 bps area
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Total outstanding: | $2.9 billion, including $1.4 billion of notes priced May 6 at Treasuries plus 370 bps spread
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