New Issue-GE Capital sells $2.25 bln in perpetuals
June 7 (Reuters) - General Electric Capital Corp on Thursday sold $2.25 billion of fixed-to-floating rate non-cumulative perpetual preferred Series A stock, said IFR, a Thomson Reuters service. Bank of America Merrill Lynch, Barclays Capital, Citigroup, Goldman Sachs and JP Morgan were the joint bookrunning managers for the sale. BORROWER: GENERAL ELECTRIC CAPITAL CORP AMT $2.25 BLN COUPON 7.125 PCT* MATURITY PERPETUAL TYPE HYBRID ISS PRICE 100 FIRST PAY 12/15/2012 MOODY'S Baa1 YIELD 7.125 PCT SETTLEMENT 06/12/2012 S&P AA-MINUS SPREAD 529.6 BPS PAY FREQ SEMI-ANNUAL FITCH N/A MORE THAN TREAS CALLABLE 06/15/2022 *After 6/15/2022 notes will float at 3-mo Libor +529.6 basis points; pays semi-annually until 2022, and quarterly thereafter.
- Tweet this
- Share this
- Digg this