General Electric on Thursday priced the first Islamic bond by a western industrial company in a move that will help open up this niche market to a broader non-Muslim investor base.
General Electric Capital Corporation, the US company’s finance arm, raised $500m in five-year bonds through a special purpose vehicle at 175 basis points over US Treasuries, the international reference point for pricing debt, with strong demand from a wide range of Muslim and non-Muslim buyers.
