GE Capital said Monday it would sell $8 billion in bonds through the Federal Deposit Insurance Corporation's Temporary Liquidity Guarantee Program, which allows companies to issue debt with the backing of the U.S. government, a company spokesman said Monday.

According to the Bloomberg reports, sales include $4 billion in two-year fixed rate over mid-swaps, $1 billion in two-year floating rate in three-month at around 8 basis points and $1.5 billion of three-year fixed rate over mid-swap notes expected to price at around 20 basis points and $1.5 billion in three-year floating rate over three months, IFR said.

Citigroup Inc., Credit Suisse Group AG, Goldman Sachs Group Inc., JPMorgan Chase & Co., HSBC and Morgan Stanley are arranging the sale and Royal Bank of Scotland Group is also helping.

GE shares rose 51 cents, or 7.2 percent, to $7.57 in afternoon trading.