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GE kicks off $23 billion bond tender offer to slash debt load

General Electric Co. launched an offer to buy back as much as $23 billion of debt as the industrial giant carries out a plan to slash its debt load.

GE is targeting a series of bonds maturing through 2050 in an offer that expires on December 9, the company said in a statement Wednesday.

The company is on target to cut its borrowings by more than $75 billion in the three years through next month thanks to operational changes designed to boost cash flow and profit margins, the company said in the statement.

This story has been published from a wire agency feed without modifications to the text.

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