GE takes action to push out, pay down debt [MarketWatch]
General Electric Company (GE)
Last general electric company earnings: 4/30 04:02 pm
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Source: MarketWatch
Shares of General Electric Co. gained 0.3% in premarket trading Monday, after the industrial conglomerate announced refinancing and deleveraging actions in an effort to bolster its financial position, given that the COVID-19 pandemic is having a "material adverse impact" on its business. Among the actions taken, GE is issuing debt to fund a tender offer for GE bonds maturing through 2024, in order to extend the debt maturities; used part of the $20 billion proceeds from the sale of its BioPharma business to repay $6 billion of its intercompany loan to GE Capital; GE Capital is launching a tender for up to $9 billion of debt maturing in 2020; and GE Capital repaid $4.7 billion of debt that matured in the first quarter. Last week, GE said first-quarter adjusted earnings per share is expected to be "materially below" previous guidance of 10 cents a share. GE's stock had tumbled 41.1% over the past three months, while the Dow Jones Industrial Average has dropped 18.0%.
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GE
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GE
Sec Filings
- 12/3/25 - Form 4
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- 12/3/25 - Form 4
- GE's page on the SEC website