Share of General Electric Co. /zigman2/quotes/208495069/composite GE -1.98% rose 1.0% in premarket trading Wednesday, after closing the previous session at a five-month high, following the industrial conglomerate's announcement that it launched tender offers to buy back up to $23 billion in outstanding debt. The company said it is using proceeds from the recently closed combination of its GE Capital Aviation Services (GECAS) business with AerCap Holdings N.V. /zigman2/quotes/204921098/composite AER -2.71% , in which GE received more than $23 billion in cash and 111.5 million AerCap shares. The debt GE is offering to buy includes maturities from 2022 to 2050 and with interest rates ranging from 0.8% to 7.7%. The announcement comes after GE's stock rallied 2.7% on Tuesday after the company announced plans to split into three separate publicly traded companies. The stock has climbed 28.8% year to date through Tuesday while the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.89% has gained 24.7%.