GE lands $15 billion loan agreement
Deal refinances the company's prior $20 billion revolving credit
General Electric Co entered into a revolving credit agreement for $15 billion, according to a regulatory filing on Monday.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GE | GE AEROSPACE | 283.89 | -8.01 | -2.74% |
The current agreement is set to mature on April 17, 2023 and refinances the company's prior $20 billion revolving credit facility that was scheduled to mature in May 2021.
GE BETTING ON OFFSHORE WIND POWER
The reduced loan size is a testimony to a changing bank landscape where companies seek to get better compensated for the risk they take to lend as volatility rattles the markets amid the COVID-19 pandemic.