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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (5830)	3/13/2002 11:49:32 PM
From: t4texas	Read Replies (3) \| Respond to of 33421

so i had to wonder, "what does ge want to do with all that new money and debt?" maybe ge has some spe's that it wants to redo (restructure or end). maybe ge thinks something might happen that will cause ge to need all that money suddenly. can it be that ge thinks borrowing is going to get that much more expensive in the next few months? i just wonder why a bank like ge needs to have that much money on hand. of course i understand there are short term debts it needs to cover too, and i suppose they don't want to be caught needing short term money when ge "needs" short term money.

To: John Pitera who wrote (5830)	3/20/2002 8:11:56 PM
From: John Pitera	Read Replies (2) \| Respond to of 33421

GE Capital Files $50 Billion Mixed Securities Shelf Monday March 18, 5:01 pm Eastern Time WASHINGTON -- General Electric Capital Co ., the financing arm of General Electric Co . (GE), has filed to sell up to $50 billion of debt, warrants, preferred stock, guarantees, letters of credit and promissory notes from time to time under a shelf-registration statement filed Monday with the Securities and Exchange Commission. Details of the securities will be provided in a prospectus. The company intends to use the net proceeds for financing operations. No underwriters were listed in the filing. Wednesday, GE Capital issued an $11 billion three-part global bond offering, grabbing the record for the largest dollar-denominated domestic bond issue to date. The GE Capital deal was increased from an initial $6 billion. News of the increase put pressure on the long bond and gave the dollar a brief lift against other major currencies. GE Capital to Seek Additional Bank Line Coverage Separately, GE Capital is seeking to increase its $33 billion bank line coverage, according to Marissa Moretti, a spokeswoman for GE Capital. "We are working with the global banking community to increase our bank line coverage," Ms. Moretti said. The spokeswoman declined to give the amount of additional coverage the company was seeking. She said when details have been finalized the company will make an announcement. GE Capital's short-term debt, which includes commercial paper and long-term maturing debt maturing within one year, equaled $127 billion as of March 11 , making it the largest corporate issuer of commercial paper in the world, Moody's Investors Service said in its liquidity assessment of GE Capital released late Monday. biz.yahoo.com