STAMFORD, Conn.--(BUSINESS WIRE)--Nov. 25, 2002--General Electric Capital Corporation (GE Capital) announced today that it has filed a prospectus with the U.S. Securities and Exchange Commission which would allow for the issuance of as much as $20 billion of GE Capital investment-grade corporate bonds through Incapital's InterNotes(R) program.
Banc of America Securities LLC and Incapital LLC will act as joint lead managers and lead agents of the InterNotes program. Beginning today, the bonds, rated "triple A" by both Moody's and Standard & Poor's, will be offered direct to investors through some 325 broker-dealers.
"The launch of GE Capital's retail bond program provides an important new way for individuals to invest directly in GE's financial businesses," said Kathy Cassidy, Treasurer, GE Capital. "At the same time, it broadens the investor base for GE Capital's funding program as we move into the coming year."
InterNotes are bonds issued by corporations and offered for sale to retail investors. InterNotes are generally offered at par in $1,000 increments and provide individual investors a variety of rates, maturity dates and interest payment options.
A Prospectus related to the offering of InterNotes is available to retail investors through co-agents and Incapital's national broker dealer network. Co-agents on the program include A.G. Edwards, Charles Schwab & Co., Inc., Edward D. Jones & Co., L.P., Merrill Lynch & Co., Morgan Stanley, Prudential Securities, Salomon Smith Barney, UBS PaineWebber and Wachovia Securities.
This announcement does not constitute an offer to sell or a solicitation of an offer to buy InterNotes, which may be made by a prospectus obtained from the agents listed above. InterNotes will not be sold in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful.
About GE Capital:
General Electric Capital Corporation is a global, diversified financial services company engaged in commercial finance, consumer finance, equipment management and insurance. With assets of over $425 billion, GE Capital serves consumers and businesses in 47 countries around the world.
About Bank of America
Bank of America is one of the world's leading financial services companies. Through offices in 30 countries, the company's Global Corporate and Investment Banking group provides investment banking, trade finance, treasury management, capital markets, leasing, and financial advisory services to domestic and international corporations, financial institutions and government entities. Many of the bank's services to corporate and institutional clients are provided through Banc of America Securities LLC, a subsidiary of Bank of America Corporation.
About Incapital:
Incapital LLC specializes in the management of retail fixed-income programs for major U.S. corporations. Incapital partners with corporate issuers and broker dealers to broaden the role of individual investors in the new issue bond market. For more information, visit http://www.internotes.com.
InterNotes(R) is the registered service mark of Incapital Holdings LLC, all rights reserved.
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CONTACT:
GE Capital
Peter Stack, 203/373-2283