GE’s $7 Billion Cash Tender Offer

Cleary Gottlieb is representing the dealer managers, led by BofA Securities Inc. and Morgan Stanley & Co. LLC, in cash tender offers by General Electric Company (GE) to purchase up to $7 billion aggregate purchase price of the outstanding notes of 38 series issued by GE or an affiliate (and assumed or guaranteed by GE).

The tender offers launched on November 8, 2022, and are expected to ultimately settle on December 8, 2022. The obligation of GE to accept for purchase, and to pay for, the notes validly tendered (and not validly withdrawn) in the tender offers is conditioned on the successful completion, prior to December 8, 2022, of the incurrence of indebtedness by GE HealthCare, in connection with the previously announced determination to spin-off the health care business.

GE is a high-tech industrial company that operates worldwide through its four segments, including aerospace, health care, renewable energy, and power.

For more information, please see the press release here.