Conditions for existence and global attractivity of the equilibria of a realistic model of a synchronous generator with constant field current connected to an infinite bus are derived. First, necessary and sufficient conditions for existence and uniqueness of equilibrium points are provided. Then, sufficient conditions for local asymptotic stability and almost global attractivity of one of these equilibria are given. The analysis is carried out by employing a new Lyapunov–like function to establish convergence of bounded trajectories, while the latter is proven using the powerful theoretical framework of cell structures pioneered by Leonov and Noldus. The efficiency of the derived sufficient conditions is illustrated via extensive numerical experiments based on two benchmark examples taken from the literature.