GE Bonds Rise for Third Day Following Parent’s $7 Billion Sale
Bonds of General Electric Co. (GE) rose for a third day following a $7 billion three-part bond offering, the parent company’s first in almost five years.
A $2 billion slice of 4.125 percent, 30-year bonds from the biggest maker of power-generation equipment climbed 1.02 cents to 105 cents on the dollar to yield 3.84 percent as of 11:17 a.m. in New York, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority. The debt priced at 99.44 cents on Oct. 1.
GE’s $2 billion of 0.85 percent, three-year notes increased 0.03 cent to 100.36 cents on the dollar and its $3 billion of 2.7 percent, 10-year debt added 0.03 cent to 101.7 cents, Trace data show.
GE last sold debt through the Fairfield, Connecticut-based parent company in November 2007, issuing $4 billion of 5.25 percent bonds maturing in December 2017, according to data compiled by Bloomberg.
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