GE’s $6 Billion Offering

April 14, 2020

Cleary Gottlieb is representing the underwriters, led by BofA Securities, J.P. Morgan, and Morgan Stanley, in a registered offering by General Electric Company (GE) of $1 billion 3.45% notes due 2027, $1.25 billion 3.625% notes due 2030, $1.5 billion 4.25% notes due 2040, and $2.25 billion 4.35% notes due 2050.

The offering priced on April 13, 2020, and is expected to close on April 22, 2020.

The offering is GE’s first capital markets transaction since May 2017. The net proceeds of the offering will be used to fund the concurrent tender offers for certain of GE’s outstanding notes.

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.