THE WALL STREET CLUB

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11:41 AM ET 4/16/08 | Dow Jones
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11:25 AM ET 4/16/08
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GE 32.24 0.81%
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NEW YORK (Dow Jones)--General Electric Capital Corp. launched its $8.5 billion three-part offering on Wednesday, according to syndicate participants familiar with the deal.

The $2.5 billion five-year tranche was launched at a spread of 205 basis points over Treasurys; the $4 billion 10-year was launched at a spread of 200 basis points over Treasurys and the $2 billion reopening of the company's existing 5.875% 30-year issue was launched at a 6.45% yield.

The outstanding $4 billion 30-year issue was priced to yield 5.976%, or 165 basis points over Treasurys, on Jan. 8 of this year.

The offering is expected to price later Wednesday via joint lead managers Banc of America Securities, Goldman Sachs & Co., Lehman Brothers and Morgan Stanley.

The deal has been rated triple-A by Moody's Investors Service and Standard & Poor's.

-By Kellie Geressy, Dow Jones Newswires; 201 938-2050; [e-mail]

> Dow Jones Newswires

04-16-08 1140ET

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