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Nov. 10, 2021, 8:19 a.m. EST

GE's stock adds to gains after launching offer to buy back up to $23 billion in debt

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By Tomi Kilgore

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%.

/zigman2/quotes/208495069/composite
US : U.S.: NYSE
$ 96.30
-1.95 -1.98%
Volume: 8.08M
Jan. 21, 2022 4:00p
P/E Ratio
21.92
Dividend Yield
0.33%
Market Cap
$105.75 billion
Rev. per Employee
$433,155
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/zigman2/quotes/204921098/composite
US : U.S.: NYSE
$ 63.29
-1.76 -2.71%
Volume: 1.48M
Jan. 21, 2022 4:00p
P/E Ratio
8.73
Dividend Yield
N/A
Market Cap
$15.50 billion
Rev. per Employee
$10.91M
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/zigman2/quotes/210599714/realtime
US : S&P US
4,397.94
-84.79 -1.89%
Volume: 3.20B
Jan. 21, 2022 4:52p
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