GE Capital Launches $2.5B Securities Exchange

By Shannon Henson

Law360, New York (February 02, 2010, 4:22 PM ET) -- General Electric Capital Corp. has offered to exchange up to $2.5 billion in trust securities for subordinated debentures due in 2067.

In a filing with the U.S. Securities and Exchange Commission on Tuesday, the company said that GE Capital Trust I wants to exchange up to $2.5 billion aggregation amount of 6.375 percent fixed to floating rate trust securities for outstanding 6.375 percent fixed to floating rate subordinated debentures due in 2067 issued by GE Capital. The exchange offer expires March 2, according to the filing....
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