By Andrea Heisinger
New York, Jan. 5 - General Electric Capital Corp. priced $4 billion of notes (Aa2/AA+/) in two tranches on Tuesday, a source close to the deal said.
The $2 billion of 2.8% three-year notes priced at 99.871 to yield 2.845%, or Treasuries plus 130 basis points.
The notes priced in line with talk of 130 bps over Treasuries.
The $2 billion tranche of 5.5% 10-year notes priced at 99.658 to yield 5.545%, or Treasuries plus 180 bps. The tranche also priced in line with price talk.
Both tranches are non-callable.
Bank of America Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities and Morgan Stanley & Co. ran the books.
The financing arm of General Electric is based in Fairfield, Conn.
| Issuer: | General Electric Capital Corp.
|
| Issue: | Notes
|
| Amount: | $4 billion
|
| Bookrunners: | Bank of America Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities, Morgan Stanley & Co.
|
| Trade date: | Jan. 5
|
| Settlement date: | Jan. 8
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA+
|
|
|
| Three-year notes
|
| Amount: | $2 billion
|
| Maturity: | Jan. 8, 2013
|
| Coupon: | 2.8%
|
| Price: | 99.871
|
| Yield: | 2.845%
|
| Spread: | Treasuries plus 130 bps
|
| Call: | Non-callable
|
|
|
| 10-year notes
|
| Amount: | $2 billion
|
| Maturity: | Jan. 8, 2020
|
| Coupon: | 5.5%
|
| Price: | 99.658
|
| Yield: | 5.545%
|
| Spread: | Treasuries plus 180 bps
|
| Call: | Non-callable
|
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