insto - Australian financial markets

A three day winning streak for US stocks was broken as investors paused for breath.

The S&P500 index fell 0.3 per cent on Thursday following strong gains earlier in the week. The decline was amidst mixed economic data as housing starts rose a less than forecast 1.5 per cent while jobless claims unexpectedly declined. Financial stocks bucked the trend, trading higher during the session.

US Credit indices also paused for breath. The Markit CDX closed above the 100 mark, 4bps higher at 102.

GE Capital Australia Funding has increased its February 2012 EMTN issue by $A150 million, taking the outstanding total to $A1 billion. The annual interest rate was 8.00 per cent with a yield of 7.718 per cent.

TD Securities led the transaction.

GE Capital has increased its 2011 EMTN by A$100 million taking the outstanding total to A$600 million.

This is the second tap of A$100 million since the deal was originally launched February this year.

TD Securities, the lead manager on the transaction said the trade was driven by continued strong demand for AUD product and for the GE Capital name in the short end, given the curve inversion.

Issuer--- GE Capital Australia Funding
Sector--- Corporation (financial)
Issuer rating--- Aaa/AAA
Facility--- Fungible fixed rate EMTN
Amount--- A$100 million
Maturity--- 13 Feb 2012
Set date--- 1 May 2008
Coupon--- 8.00 per cent
Issue Price--- 99.905
Lead--- RBC Capital Markets

GE Capital Australia has increased its Feb 2011 transaction by A$100 million, taking the new outstanding total to A$500 million.

TD Securities led the deal.

GE Capital Australia has increased its fungible fixed rate EMTN issue by A$100 million, taking the outstanding total to A$850 million.