-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, GTq1hkRtFstPs1rHGjgPK+GobF+53CyKSPxpNil5Ne63F9e6XPYUTO+F2eZj78bf sTEQ1+H9Xv2+rQBdEaaEhQ== 0000040554-02-000038.txt : 20020415 0000040554-02-000038.hdr.sgml : 20020415 ACCESSION NUMBER: 0000040554-02-000038 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020321 ITEM INFORMATION: Other events FILED AS OF DATE: 20020325 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GENERAL ELECTRIC CAPITAL CORP CENTRAL INDEX KEY: 0000040554 STANDARD INDUSTRIAL CLASSIFICATION: PERSONAL CREDIT INSTITUTIONS [6141] IRS NUMBER: 131500700 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-22265 FILM NUMBER: 02584181 BUSINESS ADDRESS: STREET 1: 260 LONG RIDGE RD CITY: STAMFORD STATE: CT ZIP: 06927 BUSINESS PHONE: 2033574000 MAIL ADDRESS: STREET 1: 260 LONG RIDGE ROAD CITY: STAMFORD STATE: CT ZIP: 06927 FORMER COMPANY: FORMER CONFORMED NAME: GENERAL ELECTRIC CREDIT CORP DATE OF NAME CHANGE: 19871216 8-K 1 gecc03-8k.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) March 21, 2002 ---------------- GENERAL ELECTRIC CAPITAL CORPORATION -------------------------------------- (Exact name of registrant as specified in its charter) Delaware 1-6461 13-1500700 --------------- ------------- ------------------ (State or other (Commission (IRS Employer jurisdiction of File Number) Identification No.) incorporation) 260 Long Ridge Road, Stamford, CT 06927 ---------------------------------- ------- (Address of principal executive offices) (Zip Code Registrant's telephone number, including area code (203) 357-4000 -------------- Item 5. Other Events On March 21, 2002, General Electric Company ("GE"), the ultimate parent of the registrant, set forth GE's approach to managing the long-term bond offerings and debt portfolio of General Electric Capital Corporation. A copy of GE's press release regarding GE's approach is attached hereto as Exhibit 99 and hereby incorporated by reference. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits Exhibits: (99) Press release, dated March 21, 2002, issued by General Electric Company. Signatures Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. GENERAL ELECTRIC CAPITAL CORPORATION By /s/ Joan C. Amble -------------------------------- Joan C. Amble Vice President and Controller Date: March 25, 2002 Exhibit Index ---------------- (99) Press release, dated March 21, 2002, issued by General Electric Company. EX-99 3 ge8kex99.txt EXHIBIT 99 GE RESPONDS TO INQUIRIES ABOUT DEBT FUNDING STRATEGY FAIRFIELD, CONN. - March 21, 2002 - In response to media and investor inquiries, General Electric Senior Vice President and Chief Financial Officer Keith Sherin today set forth the Company's approach to managing GE Capital's long-term bond offerings and debt portfolio. o GE's and GE Capital's longstanding triple-A ratings have provided an attractive investment source for short- and long-term debt investors around the world. GE is committed to maintaining its triple-A ratings and to continuing its deep and broad access to global capital markets. o GE Capital grew its assets by more than $50 billion during 2001. Because much of that growth came during the fourth quarter, GE Capital entered 2002 with a high proportion of commercial paper in its debt structure. o GE and GE Capital will continue to fund a portion of their operations with commercial paper. GE and GE Capital have the highest short-term ratings (A1+/P1). As a commercial paper issuer, GE Capital is in the process of increasing its backup bank lines from $33.5 to $50 billion appropriate to current market conditions. o GE Capital's target range for commercial paper as a percentage of outstanding debt is 25 to 35 percent by the end of 2002. GE Capital began the year with $117 billion of commercial paper and currently has $103 billion of commercial paper - approximately 42 percent of total debt. o In the first quarter of 2002, GE Capital has issued $25 billion of long-term debt largely in the U.S. market. GE Capital anticipates issuing a comparable amount in the second quarter of 2002 using both U.S. and international markets as demand warrants. o With the $11 billion bond issuance of March 13, GE Capital exhausted its existing debt shelf registration; consequently, on March 20, GE Capital filed a $50 billion shelf registration. The shelf registration is not an offering. It gives GE Capital the capacity and flexibility to issue additional long-term debt as $31 billion of existing long-term debt matures through the rest of the year and as market conditions and growth warrant. o GE will continue to manage its debt portfolio in a strategic and orderly way over the course of the year. GE has all the financial resources necessary to achieve the growth objectives it has laid out for investors. o Sherin said all of the above actions have been factored into GE's earnings plans for 2002 and 2003 and the Company remains committed to its earnings targets of $1.65-$1.67 before accounting charges, with upside if there is economic recovery. GE (NYSE:GE) is a diversified technology, services and manufacturing company with a commitment to achieving customer success. GE operates in more than 100 countries and employs approximately 310,000 people worldwide. For more information, visit the company's Web site at http://www.ge.com. # # # Caution Concerning Forward-Looking Statements This document includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors. More detailed information about those factors is contained in GE's filings with the Securities and Exchange Commission. -----END PRIVACY-ENHANCED MESSAGE-----