GE Capital Plans Subordinated Debt Ahead of Fed Rules

General Electric Co.’s finance arm is marketing $2 billion of subordinated debt for the first time since 2005 as it prepares to be regulated by the Federal Reserve.

The notes from General Electric Capital Corp. are expected to be counted as so-called Tier 2 capital, said Russell Wilkerson, a company spokesman. The 10-year debt may yield 162.5 basis points more than similar-maturity Treasuries, said a person familiar with the transaction.