(Reuters) - General Electric Co GE.N said on Monday it reopened portions of its prior debt offerings for $3 billion in total proceeds to boost its cash reserves amid the coronavirus crisis.
The company said the reopening was in response to a reverse inquiry from a long-term strategic investor seeking to buy the company’s debt.
GE said it expects to use these proceeds to reduce shorter-duration debt and the deal is expected to be leverage neutral over time.
Reporting by Ankit Ajmera in Bengaluru; Editing by Anil D’Silva
Our Standards: The Thomson Reuters Trust Principles.