GE: successful debt tender offers
(CercleFinance.com) - GE has announced successful debt tender offers, with approximately 33.
3 billion dollars of securities validly tendered to the offers as of 24 November, having agreed to repurchase approximately 25 billion dollars of securities.
The conglomerate, which plans to split into three separate companies in the coming years, now expects to reduce its gross debt by over 80 billion dollars between end-2018 and end-2021.
As a result, GE says that it is on track to achieve deleveraging targets and generate free cash flow margins in the high single-digit range in the current business portfolio in 2023.
The GE share is down over 4.5% in pre-market trading on Friday.
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