General Electric Capital plans to offer $250 million senior notes due 2052 talked around 5%

By Stephanie N. Rotondo

Phoenix, Oct. 2 - General Electric Capital Corp. intends to issue a minimum of $250 million senior notes due Oct. 15, 2052, a market source told Prospect News on Tuesday.

Price talk on the notes (A1/AA+) is around 5%. Interest is payable in the 15th day of January, April, July and October, beginning Jan. 15, 2013.

The notes can be called on or after Oct. 15, 2017 at par.

The company will apply to list the notes on the New York Stock Exchange under the ticker symbol "GEA."

Morgan Stanley & Co. LLC, Bank of America Merrill Lynch, UBS Securities LLC and Wells Fargo Securities LLC are the joint bookrunners.

Proceeds will be used for general corporate purposes, which may include a partial or full redemption of the senior notes due June 28, 2032.

GE Capital is a Norwalk, Conn.-based finance company.

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