GE gives deflated corporate market a lift

GE Capital European Funding looks likely to be the highlight of the week for the deflated corporate bond market, with primary deal flow otherwise still at a standstill. GE drew a book of Eu5.4bn for its Eu1.5bn seven year bond, which priced at 140bp over mid-swaps. Bankers in the wider market praised the deal’s pricing and structure, but few are expecting many other borrowers to follow GE’s lead this week. Read EuroWeek on Friday for an update on what’s in store for March.