GE Capital kicks off $10B sale of debt backed by FDIC

01/6/2009 | Reuters

GE Capital, the finance arm of General Electric, has launched the biggest sale of debt backed by the Federal Deposit Insurance Corp. so far under the government's Temporary Liquidity Guarantee Program. On Dec. 1, Bank of America sold $9 billion of debt through the program, the largest sale until GE Capital's deal. "TLG paper has been widely accepted in the United States and is still catching on in Asia," said Jim Vogel, a strategist at FTN Financial Capital Markets.

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