GE Increases Debt Buyback to $7 Billion in Deleveraging Push
- Industrial giant had looked to tender up to $4.865 billion
- Completion will slash $50 billion in debt under CEO Larry Culp
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General Electric Co. is increasing the size of a previously announced tender offer as the company continues to clean up its debt-laden balance sheet.
GE is now looking to buy back $7 billion of bonds, up from as much as $4.865 billion when the transaction was announced last month, according to a statement Tuesday. The increase targets three sets of GE Capital notes and four at the parent level.