GE launches $7 billion sale of 3-year, 10-year, 30-year notes

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)

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