General Electric (GE) has taken advantage of continued low rates with a $3B bond sale comprising $2.25B of 30-year notes and $750M in 10-year paper.
The auction attracted strong demand, mainly due to the not-so-common opportunity to buy debt from the parent company rather than GE Capital. The last time the parent sold bonds was in October 2012.
GE is rate at AA+ at S&P.
Meanwhile, following shareholder feedback, GE will end dividend payments to senior management on new stock that has yet to vest.
ETFs: LQD, VCSH, VCIT, CORP, VCLT, CSJ, CIU, CFT, SCPB, LWC, CLY, ITR, QLTA, IGHG, PFIG, SLQD, ENGN, IGS, CBND, QLTB, IGU
This was corrected on 03/07/2014 at 06:54 AM. The date of the previous GE parent-company bond was incorrectly stated.