The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Best Borrowers 2008: GECC

The borrower stands out for its prolific yet nimble use of the global capital markets during the credit crunch.

Judging from GECC’s fund-raising in the debt capital markets over the past 12 months, one might question whether there had been a credit crisis at all. In 2007, GECC raised $90 billion, half of it in the latter part of the year. Already this year, it has issued $52 billion in bonds globally. There is no doubt that GECC’s triple-A status has helped. Its bonds have offered investors a haven as confidence in other financial borrowers has faltered.

To attribute the success of the firm’s consistent visits to the bond market solely to its triple-A status, however, would be to do GECC’s fund-raising committee an injustice.

Kitty Yoh, GECC’s deputy treasurer, recognized that the funding strategy would have to be altered to fit the environment early on. "Like most other individuals in the marketplace, we cannot claim to say we saw the credit crunch coming, but in 2007 we began to notice problems on the horizon, and so became a little more conservative," she says.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree