2009-01-05bloomberg.com

GE Capital Corp., the lending arm of General Electric Co., plans to raise $10 billion in the biggest offering of debt backed by the Federal Deposit Insurance Corp.

The sale will include $2 billion of two-year notes, $5.5 billion of 3.5-year debt and $2.5 billion of 18-month securities, according to a person familiar with the sale who declined to be identified because terms aren’t set. The sale may take place as soon as today.

Today’s offering would put GE Capital halfway toward its goal to “pre-fund” $45 billion in debt that the company plans to refinance this year. GE Capital sold about $12.5 billion of FDIC-backed notes last year, according to data compiled by Bloomberg.


Lijit Search

Comments: Be the first to add a comment

add a comment | go to forum thread