General Electric, the US conglomerate, is to follow up its record breaking $11bn (€12bn) bond issue earlier this year with a $6bn offering - but US corporate issuance overall is down 30% so far in the second quarter.

GE will be issuing the bonds through its finance arm GE Capital, which is rated AAA by the main credit rating agencies and which set up a $50bn bond issuance programme in February. Bank of America, Credit Suisse First Boston and Morgan Stanley are managing the sale.