Some good news to end the week - it looks like GE is lending again after their fourth quarter 2008 "pause".  Below are some highlights of a conversation with a member of GE's senior management late last week. GE is back in the market with "billions" in their budget for lending this year.  When pressed, that was more than $2B but less than $8B - and the amount loaned will depend on the opportunities in the primary market vs. secondary markets.

• Pricing is Libor + 650 (and up) with 3-5% upfront (could be slightly lower for small deals, but at least 3% and probably 4%), and unused line fees going up to 100bps.
• Leverage is 2-2.5x senior debt and 3.5-4x total debt at the high end. 
• GE says they will be looking for 45-50% equity to do deals.
• The bigger the deal the better the overall terms, although GE expects that their loan limit will be about $100 million per transaction.