Midday Commentary: GE Capital to price notes; NextEra, TravelCenters list; Farmer Mac eyed

By Stephanie N. Rotondo

Phoenix, Jan. 22 - General Electric Capital Corp. kicked off the shortened holiday week by announcing a new offering on Tuesday.

The company is reportedly planning to sell at least $250 million of $25-par senior notes due 2053. Price talk is around 4.875%, according to a trader.

The trader pegged the notes at $24.60 bid, $24.62 offered in the gray market as of midday.

Meanwhile, recent issues were listing on the New York Stock Exchange.

NextEra Energy Capital Holdings Inc.'s $425 million of series J junior subordinated debentures due 2073 listed under the symbol "NEEPJ." The issue priced Jan. 15.

TravelCenters of America LLC's $100 million of 8.25% $25-par senior notes due 2028 also listed under the ticker "TANN."

The TravelCenters issue came Jan. 8.

NextEra's series J securities were trading at $24.53 at midafternoon, down from opening levels of $24.67. TravelCenters was at $25.14, up from $25.10.

A trader said that Federal Agricultural Mortgage Corp. - or Farmer Mac as it is more commonly referred to - is expected to list its $60 million of 5.875% series C perpetual preferreds on Wednesday under the symbol "AGMPA."

The Farmer Mac notes priced Jan. 14.

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