GE Capital hires banks to sell government-backed debt

[Mari333]

Source: tehran times

'General Electric Capital Corp., the finance arm of General Electric Co., hired five banks to manage a bond sale under the U.S. government’s Temporary Liquidity Guarantee Program.

Citigroup Inc., Credit Suisse Group AG, Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley are arranging the sale, according to an e-mail sent to investors. Deutsche Bank AG, HSBC Holdings Plc and Royal Bank of Scotland Group Plc are also helping with the “benchmark” issue. A benchmark sale typically means at least $500 million.

“The market is going to remain heavily dominated by government-guaranteed paper for many more months as people are scared of corporate defaults and the lack of liquidity in non-guaranteed bonds,” said Guthrie Williamson, a Sydney-based money manager with Principal Global Investors, which oversees $198 billion. '



Read more: http://www.tehrantimes.com/index_View.asp?code=190854

---

doesnt GE OWN CNBC? yes, it does.also, someone explain to me what this all means.

[CatholicEdHead]

1. What a mess

[FLSurfer]

2. Does this mean if I buy GE Bonds they will

be guaranteed by the Govt? FDIC?
I was told yesterday that they are offering bonds paying around 5%.