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UPDATE 1-GE Capital sets size of bond at 1 bln euros -IFR

Tue May 12, 2009 9:15am EDT

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(Adds size, tightened guidance)

LONDON, May 12 (Reuters) - GE Capital European Funding (GEA.N) has set the size of a planned issue of bonds maturing January 2013 at 1 billion euros ($1.4 billion), IFR reported on Tuesday.

Guidance on the bond has been tightened to mid-swaps plus 295 basis points from plus 300 basis points area after investor demand exceeded 3 billion euros, said IFR Markets, a Thomson Reuters online news and market analysis service.

The borrower's existing 2012 bond was quoted at mid-swaps plus 244 basis points earlier today and its 2013 bond at mid-swaps plus around 295 basis points, suggesting a premium for the new issue of around 18 basis points, IFR said.

BNP Paribas, Credit Suisse, Deutsche Bank and UBS are managing the sale of the bond, which is guaranteed by General Electric Capital Corp. GECC is rated Aa2 by Moody's Investors Service and AA+ by Standard & Poor's.

(Reporting by Jane Baird; Editing by David Cowell)



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