GE seeks to raise $3 billion
One-time industrial behemoth looks to boost its cash reserves amid the coronavirus crisis
Fox Business Flash top headlines are here. Check out what's clicking on FoxBusiness.com.
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 | 177.49 | +0.60 | +0.34% |
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.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
GE said it expects to use these proceeds to reduce shorter-duration debt and the deal is expected to be leverage neutral over time.
CLICK HERE TO READ MORE ON FOX BUSINESS
Load more..