GE Capital CDS tighten to 9 pct upfront from 12 pct

The cost of insuring debt of General Electric Co's (GE.N) finance arm with credit default swaps fell on Tuesday, a day after the unit raised $8 billion in a sale of government-guaranteed debt.

Five-year credit default swaps on General Electric Capital fell to 9 percent upfront on Tuesday from 12 percent at Monday's close, plus 500 basis points annually, according to Phoenix Partners Group. That means it costs $900,000 in an upfront payment, plus $500,000 in annual premiums, to insure $10 million of GE Capital debt.

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- Posted: 2009-03-10 08:20:47

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