GE Capital Canada Issues $1B MTNs

GE Capital Canada Funding Company issued a total of $1 billion medium term notes in two tranches, $750 million on April 23, 2003 and $250 million on April 28. All notes are guaranteed by General Electric Capital Corporation. GE issued $750 million of 5 per cent notes due April 23, 2008 and an additional $250 million of floating rate notes due April 28, 2005.

McCarthy T├ętrault LLP acted for GE Capital Canada and General Electric Capital, with a team that included Barry Ryan, David Woollcombe, Shea Small and Wendi Locke, and Gabrielle Richards (tax).

The $750 million issue was led by RBC Capital Markets Inc. and TD Securities Inc., and included BMO Nesbitt Burns Inc., CIBC World Markets Inc. and Scotia Capital Inc. RBC Capital Markets acted as sole agent on the $250 million issue. On both issues, the dealers were represented by Jamie Davis and Maurice Swan of Stikeman Elliott LLP.