Attached files
| file | filename |
|---|---|
| 8-K - GECC 8K 02_17_10 - GENERAL ELECTRIC CAPITAL CORP | gecc8k021710.htm |
| EX-99.1 - EXHIBIT 99.1 PRESS RELEASE - GENERAL ELECTRIC CAPITAL CORP | exhibit991.htm |
Exhibit 99.2
GENERAL
ELECTRIC CAPITAL CORPORATION PROVIDES FURTHER INFORMATION REGARDING EXCHANGE
OFFERS
NORWALK, CT, February 17, 2010 –
On February 2, 2010, General Electric Capital Corporation (“GE Capital”)
announced the commencement of offers to exchange:
|
·
|
Any
and all of its outstanding $2,500,000,000 6.375% Fixed to Floating Rate
USD Subordinated Debentures due 2067 for a corresponding liquidation
amount of new 6.375% Fixed to Floating Rate Trust Securities of GE Capital
Trust I;
|
|
·
|
Any
and all of its outstanding EUR 1,500,000,000 5.500% Fixed to Floating Rate
EUR Subordinated Debentures due 2067 for a corresponding liquidation
amount of new 5.500% Fixed to Floating Rate EUR 2067 Trust Securities of
GE Capital Trust II;
|
|
·
|
Any
and all of its outstanding GBP 600,000,000 6.500% Fixed to Floating Rate
GBP Subordinated Debentures due 2067 for a corresponding liquidation
amount of new 6.500% Fixed to Floating Rate GBP 2067 Trust Securities of
GE Capital Trust III;
|
|
·
|
Any
and all of its outstanding EUR 950,000,000 4.625% Fixed to Floating Rate
EU Subordinated Debentures due 2066 for a corresponding liquidation amount
of new 4.625% Fixed to Floating Rate EUR 2066 Trust Securities of GE
Capital Trust IV; and
|
|
·
|
Any
and all of its outstanding GBP 400,000,000 5.500% Fixed to
Floating Rate GBP Subordinated Debentures due 2066 for a corresponding
liquidation amount of new 5.500% Fixed to Floating Rate GBP 2066 Trust
Securities of GE Capital Trust V.
|
Earlier
today, GE Capital announced that all holders who validly tender Debentures on or
prior to 11:59 p.m., New York City time, in the case of the US dollar
denominated Debentures, and 11:59 p.m., London time, in the case of each other
series of Debentures, on March 2, 2010 and who do not withdraw such tenders in
accordance with the applicable offer will be eligible to receive total exchange
consideration equal to 1% of the principal amount of the Debentures so tendered
and not withdrawn along with a like liquidation amount of applicable Trust
Securities. All other terms and conditions of the respective offers remain
unchanged.
GE
Capital has also provided the following data concerning the exchange
offers. As of 5:00 p.m., New York City time, on February 16, 2010,
Debentures in the following approximate aggregate principal amounts have been
validly tendered and not withdrawn pursuant to the offers:
|
·
|
$801,772,000
in the case of the 6.375% USD Debentures due
2067;
|
|
·
|
€598,361,000
in the case of the 5.500% EUR Debentures due
2067;
|
|
·
|
£91,670,000
in the case of the 6.500% GBP Debentures due
2067;
|
|
·
|
€702,746,000
in the case of the 4.625% EUR Debentures due 2066;
and
|
|
·
|
£124,710,000
in the case of the 5.500% GBP Debentures due
2066.
|
The offer
to exchange the US dollar denominated Debentures is being made pursuant to the
Registration Statement on Form S-4 filed by GE Capital with the Securities and
Exchange Commission and the related letter of transmittal. The
Registration Statement has not yet been declared effective by the Securities and
Exchange Commission.
This
communication is not an offer to sell or purchase or an offer to exchange or a
solicitation of acceptance of an offer to sell or purchase or offer to
exchange. Any such offer or solicitation shall be made solely by
means of the Registration Statement and related letter of transmittal in the
case of the US dollar denominated Debentures. Trust Securities issued
in exchange for each other series of Debentures have not been and will not be
registered under the Securities Act of 1933 and may not be offered or sold in
the United States absent registration or an applicable exemption from such
registration requirements.