General Electric: We Love Debt Too
General Electric (NYSE:GE) plans to sell a reported $7 billion in debt in its first offering since 2007.
An anonymous individual familiar with the situation stated that GE intends to offer 3-year notes with fixed- or floating-rate coupons, as well as 10-year bonds and 30-year securities. The bonds will likely be rated Aa3 by Moody’s and AA+ by Standard & Poor’s, the individual said.
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GE will use the proceeds to pay off notes due in 2013, as well as to cover general corporate expenditures. The company last sold $4 billion of debt in November, 2007.
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