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GE Capital, the finance arm of General Electric, has completed its inaugural sukuk offering of $500 million, tailored for investors across the Middle East, Asia and Europe.
The five-year sukuk had strong demand and makes GE Capital the first US corporate issuer of an Islamic bond. Proceeds will be used for general corporate purposes.
“GE Capital’s inaugural entry into the sukuk market aims to further complement and solidify GE’s fast growing presence across the Middle East and Asian regions,” stated Aris Kekedjian, vice president and managing director, GE Strategic Development, GE Capital."