Updated from 2:47 p.m. EDT

General Electric ( COF) 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.

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