By Christopher Reich
NEW YORK, Oct 1 (IFR) - General Electric on Monday launched a $7 billion sale of three-year, 10-year and 30-year notes, according to a term sheet.
The deal is being brought by Barclays, Citigroup, Deutsche Bank, Goldman Sachs, JP Morgan and Morgan Stanley as joint bookrunners.
Initial price guidance is for the three-year notes to price at Treasuries plus about 60 basis points, the 10-year at Treasuries plus 115 basis points and the 30-year at Treasuries plus 140 basis points.
Proceeds will be used to repay debt, including all or part of $5 billion of 5% notes due 2013, as well as for general corporate purpouses.
Pricing is expected later on Monday.
(Reporting By Christopher Reich; Writing by Ciara Linnane)