23 July 2008 - Gide Loyrette Nouel London advises GE Capital on €1.5 billion debt issue:

In one of the largest debt transactions of the year, Gide Loyrette Nouel London advised General Electric Capital Corporation on a €1.5 billion pan-European EMTN (Euro Medium Term Notes) issue. The Notes were listed on the London Stock Exchange and were publicly offered in six European jurisdictions: Spain, The Netherlands, Ireland, Belgium, Luxembourg and Germany. The Notes were rated AAA / Aaa and mature in September 2011. 
 
The Notes are governed by New York law. Gide’s London office acted as both United States and English law counsel. London-based partner Scott Cameron led the team representing General Electric Capital Corporation. He was assisted by associates Phung Pham and Will Oliver. 
 
Gide’s debt lawyers in London and Paris have been amongst the most active in working with the regulators to develop the practical aspects of passporting prospectuses under the EU Prospectus Directive, especially in the UK, France, Ireland and Luxembourg. Passporting enables simultaneous public offering or listing of securities in multiple EU jurisdictions, making it easier to complete large capital markets transactions, such as the GE Capital notes.  

Barclays Bank PLC, Credit Suisse Securities (Europe) Limited, HSBC Bank PLC and UBS Limited were lead managers.

Scott Cameron, head of Gide London’s debt capital markets team, said: “We were very happy to be able to assist GE Capital with one of the largest debt transactions in Europe in 2008, especially given the pan-European nature of the offering and its use of the passporting process established by the EU Prospectus Directive. The transaction demonstrates once again that the European debt capital markets are still very much open for business for top rated issuers such as GE Capital."