GE seeks to raise $3 billion
One-time industrial behemoth looks to boost its cash reserves amid the coronavirus crisis
General Electric Co said on Monday it reopened portions of its prior debt offerings for $3 billion in total proceeds to boost its cash reserves amid the coronavirus crisis.
GE BETTING ON OFFSHORE WIND POWER
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GE | GE AEROSPACE | 161.26 | +2.07 | +1.30% |
The company said the reopening was in response to a reverse inquiry from a long-term strategic investor seeking to buy the company’s debt.
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GE said it expects to use these proceeds to reduce shorter-duration debt and the deal is expected to be leverage neutral over time.