GE Commences Registered Exchange Offer for GE Capital Funding, LLC’s 3.450% Notes due 2025, 4.050% Notes due 2027, 4.400% N...
April 08 2021 - 6:30AM
Business Wire
General Electric Company (NYSE:GE) and GE Capital Funding, LLC
(“GECF”) today commenced an offer to exchange (the “Exchange
Offer”) any and all of GECF’s $1,350,000,000 in aggregate principal
amount of outstanding 3.450% Notes due 2025 (the “2025 Outstanding
Notes”), $1,000,000,000 in aggregate principal amount of
outstanding 4.050% Notes due 2027 (the “2027 Outstanding Notes”),
$2,900,000,000 in aggregate principal amount of outstanding 4.400%
Notes due 2030 (the “2030 Outstanding Notes”) and $750,000,000 in
aggregate principal amount of outstanding 4.550% Notes due 2032
(the “2032 Outstanding Notes” and, together with the 2025
Outstanding Notes, 2027 Outstanding Notes and 2030 Outstanding
Notes, the “Outstanding Notes”), for an equal amount of the
applicable series of its registered 3.450% Notes due 2025 (the
“2025 Exchange Notes”), 4.050% Notes due 2027 (the “2027 Exchange
Notes’), 4.400% Notes due 2030 (the “2030 Exchange Notes”) and
4.550% Notes due 2032 (the “2032 Exchange Notes” and, together with
the 2025 Exchange Notes, 2027 Exchange Notes and 2030 Exchange
Notes, the “Exchange Notes” and, together with the Outstanding
Notes, the “Notes”). The Outstanding Notes are, and the Exchange
Notes will be, fully and unconditionally guaranteed by GE.
The terms of the Exchange Notes are identical in all material
respects to those of the applicable series of the Outstanding
Notes, except that the Exchange Notes have been registered under
the Securities Act of 1933, as amended, and the transfer
restrictions, restrictive legends, registration rights and
additional interest provisions relating to the Original Notes do
not apply to the Exchange Notes. The purpose of the Exchange Offer
is to fulfill the obligations of GE and GECF under the registration
rights agreements entered into in connection with the issuance of
the Outstanding Notes. Neither GE nor GECF will receive any
proceeds from the Exchange Offer.
The Exchange Offer will expire at 5:00 p.m. Eastern Standard
Time (EST) on May 5, 2021, unless extended (such date and time, as
may be extended, the “Expiration Date”). The settlement date for
the Exchange Offer will occur promptly following the Expiration
Date. The terms of the Exchange Offer and other information
relating to GE, GECF and the Exchange Notes are set forth in a
prospectus dated April 7, 2021, a copy of which has been filed with
the Securities and Exchange Commission. GE and GECF have not
authorized any person to provide information other than as set
forth in the prospectus.
Copies of the prospectus and the related letter of transmittal
governing the Exchange Offer can be obtained from the exchange
agent, The Bank of New York Mellon, at its address below:
The Bank of New York Mellon, as Exchange Agent
c/o BNY Mellon Corporate Trust Operations- Reorganization Unit 111
Sanders Creek Parkway East Syracuse, NY 13057 Attn: Tiffany Castor
Tel: 315-414-3034 Fax: 732-667-9408 E-mail:
CT_REORG_UNIT_INQUIRIES@bnymellon.com
General
This announcement is for informational purposes only. This
announcement is not an offer to sell or a solicitation of an offer
to purchase any Notes or any other securities of GE or any of its
subsidiaries. The Exchange Offer is being made solely pursuant to
the prospectus dated April 7, 2021, including any supplements
thereto, and only to such persons and in such jurisdictions as is
permitted under applicable law.
Special Note Regarding Forward-Looking Statements
This announcement contains “forward-looking statements”—that is,
statements related to future, not past, events. In this context,
forward-looking statements often address our expected future
business and financial performance and financial condition, and
often contain words such as “expect,” “anticipate,” “intend,”
“plan,” “believe,” “seek,” “see,” “will,” “would,” “estimate,”
“forecast,” “target,” “preliminary,” or “range.” Forward-looking
statements by their nature address matters that are, to different
degrees, uncertain, such as statements about the consummation of
the Exchange Offer. Uncertainties that could cause our actual
results to be materially different than those expressed in our
forward-looking statements include, but are not limited to, the
failure or inability to consummate the Exchange Offer in a timely
manner or at all, the failure or inability to make or take any
filing or other action required to consummate the Exchange Offer in
a timely manner or at all, and changes in market conditions. These
or other uncertainties may cause our actual future results to be
materially different from those expressed in our forward-looking
statements.
About GE GE (NYSE:GE) rises to the challenge of building
a world that works. For more than 125 years, GE has invented the
future of industry, and today the company’s dedicated team, leading
technology, and global reach and capabilities help the world work
more efficiently, reliably, and safely. GE’s people are diverse and
dedicated, operating with the highest level of integrity and focus
to fulfill GE’s mission and deliver for its customers.
www.ge.com
GE’s Investor Relations website at www.ge.com/investor and our
corporate blog at www.ge.com/reports and @GE_Reports on Twitter, as
well as GE’s Facebook page and Twitter accounts, contain a
significant amount of information about GE, including financial and
other information for investors. GE encourages investors to visit
these websites from time to time, as information is updated and new
information is posted.
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GE Investor Contact
Steve Winoker, 617.443.3400 swinoker@ge.com
GE Media Contact
Mary Kate Mullaney, 202.304.6514 marykate.nevin@ge.com
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