General Electric Co. will issue new debt to prefund $6 billion in pension contributions next year, according to an investor update presentation from the company.

The news came as GE announced a massive restructuring of its sprawling business units and a 50% cut in its dividend.

GE sponsors two principal defined-benefit pension plans, and nearly 50 legacy plans the industrial giant assumed over decades of acquisitions, according to the firm's 2016 10-K filing with the Securities and Exchange Commission.

Continue Reading for Free

Register and gain access to:

  • Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
  • Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.