Search
 
News

GE Plans $5 Billion Debt Buyback

Buyback covers dollar- and euro-denominated debt; offer expires in early October.

By Claire Boston & Thomas Black | September 12, 2019 at 04:40 PM

General Electric Co. plans to buy back as much as $5 billion of bonds as the manufacturer seeks to cut its debt load as part of its turnaround. The repurchase will cover up to $2.5 billion of dollar debt and the equivalent of $2.5 billion (2.28 billion euros) of euro-denominated notes, GE said in a statement Thursday. The company said it wouldn’t expand the size of the buyback plan.

Reducing debt is a cornerstone of CEO Larry Culp’s attempt to overhaul GE after one of the worst slumps in the company’s 127-year history. Since taking the helm last year, Culp has been pruning operations to focus on making jet engines, power equipment, and medical scanners while tackling more than $100 billion in borrowing.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

 

Recommended Stories

Verizon Likes Investor Scrutiny of ESG Bonds

Verizon Likes Investor Scrutiny of ESG Bonds

Caleb Mutua |

The company has issued five green bonds, including a $1 billion offering earlier this month. “Added scrutiny ... enables our platform to continue to shine compared to the rest of the market.”

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2023 ALM Global, LLC. All Rights Reserved.