FAIRFIELD, Conn.--(BUSINESS WIRE)--Jan. 21, 2003--General Electric Company announced this morning that it will execute a USD 5 Billion Global financing.
This is in line with Keith Sherin's comments during the January 17, 2003 Fourth Quarter and Total Year 2002 Performance presentation. GE is executing this transaction in order to term out Commercial Paper raised at year-end 2002 for its equity infusion into General Electric Capital Corporation and ERC. This is the only term debt transaction which GE has planned for 2003.
Book-runners on this transaction will be Lehman Brothers, Morgan Stanley and Salomon Smith Barney.
Questions on the transaction should be referred to officials at those firms. The contact names and telephone numbers are:
Lehman Brothers: Eric Felder (212) 526-9664
Morgan Stanley: Drew Ertman (212) 761-1916
Salomon Smith Barney: John Sheehan (212) 723-6171
GE (NYSE: GE) is a diversified technology and services company dedicated to creating products that make life better. From aircraft engines and power generation to financial services, medical imaging, television programming and plastics, GE operates in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at http://www.ge.com.
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CONTACT:
General Electric, Fairfield
Peter Stack, 203/373-2283