GECC credit default swaps steady at 15.5 pct upfront

NEW YORK, March 5 (Reuters) - The cost of insuring debt of General Electric Co's (GE.N) finance arm against default was steady on Thursday, a day after it touched record highs amid funding concerns about the unit.

Five-year credit default swaps on General Electric Capital Corp were unchanged at about 15.5 percent upfront, according to data from Phoenix Partners Group. That means it costs $1.55 million in an upfront payment, plus $500,000 annually to insure $10 million of debt. (Reporting by Dena Aubin; Editing by Theodore d'Afflisio) (dena.aubin@thomsonreuters.com; +1-646-223-6325; Reuters Messaging: dena.aubin.reuters.com@reuters.net))