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Nov. 26, 2021, 8:32 a.m. EST

GE eyes $80 billion in gross debt reduction by end of 2021

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By Steve Gelsi

GE

General Electric Co. /zigman2/quotes/208495069/composite GE -1.98% said Friday it expects to achieve $80 billion in gross debt reduction between the end of 2018 and the end of 2021, up from its $75 billion projection made on Nov. 10. The company said it's on track to achieve deleveraging targets and deliver high-single-digit free cash flow margins in 2023. About $33.3 billion in aggregate principal was tendered at or prior to an early participation date. GE accepted for purchase about $25 billion in aggregate principal.

/zigman2/quotes/208495069/composite
US : U.S.: NYSE
$ 96.30
-1.95 -1.98%
Volume: 8.07M
Jan. 21, 2022 4:00p
P/E Ratio
21.92
Dividend Yield
0.33%
Market Cap
$107.89 billion
Rev. per Employee
$459,155
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