GE’s $3 Billion Offering

Cleary Gottlieb is representing the underwriters, led by Morgan Stanley, in a registered offering by General Electric Company (GE) of $1.5 billion 4.35% notes due 2050, which represented a reopening of the same series of notes initially issued in April 2020.

Cleary is also representing the same banks as initial purchasers in an unregistered offering by GE Capital Funding LLC (GE Capital), a subsidiary of GE, of $1.5 billion 4.4% notes due 2030, which represented a reopening of the same series of notes initially issued by GE Capital in May 2020.

The GE Capital notes are guaranteed by GE and were offered for sale in the United States pursuant to Rule 144A and outside of the United States pursuant to Regulation S. Both offerings priced on June 8, 2020, and are expected to close on June 15, 2020.

GE is a high-tech industrial company that operates worldwide through its four industrial segments, power, renewable energy, aviation, and healthcare, and its financial services segment. It serves customers in over 170 countries and carries out manufacturing and service operations at 94 manufacturing plants located in 30 states in the United States and Puerto Rico and at 190 manufacturing plants located in 37 other countries.