GE Announces Actions To De-risk Its Balance Sheet - Quick Facts

(RTTNews) - GE (GE) announced the company is launching a strategic debt issuance to fund an immediate tender for GE bonds maturing through 2024. As part of its deleveraging plan, using proceeds from the BioPharma deal, GE also repaid $6 billion of its intercompany loan to GE Capital. Also, GE Capital is launching a tender targeting up to $9 billion of debt maturing in 2020.

GE CEO Lawrence Culp, Jr., said, "With net proceeds of about $20 billion from the sale of BioPharma now in hand, we are taking swift actions to de-risk and de-lever our balance sheet and prudently manage our liquidity amid a challenging external environment."