General Electric Rises on Debt Sale

General Electric shares were rising 6.7% Monday, after a report the company's finance unit was going to raise money through government-basked debt sales.
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Updated from 2:47 p.m. EDT

General Electric

(COF) - Get Report

shares closed up 5% Monday, after a report the company's finance unit was going to raise money through government-basked debt sales.

The Associated Press

reported that a company spokesman said GE Capital will offer two- and three-year maturities that will be backed by the FDIC's Temporary Liquidity Guarantee Program. The exact size of the offering was not available, but

AP

said benchmark deals like it are usually at least $500 million.

Shares closed up 35 cents to $7.41.

This article was written by a staff member of TheStreet.com.