GE GE Aerospace

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

On May 27, 2021 (the “Closing Date”), General Electric Company (“GE”) entered into an amended and restated senior unsecured back-up revolving syndicated credit facility extended by 30 banks at an initial aggregate principal commitment amount of $10 billion (the “Amended Senior Unsecured Credit Facility”). The Amended Senior Unsecured Credit Facility amends GE’s $15 billion back-up revolving syndicated credit facility that was scheduled to mature in April 2023.

The Amended Senior Unsecured Credit Facility matures on May 27, 2026, and any borrowings under the Amended Senior Unsecured Credit Facility may, at the election of GE, be prepaid prior to such date, in whole or in part, without premium or penalty. Extensions of credit under the Amended Senior Unsecured Credit Facility may be utilized by GE for general corporate purposes. The Amended Senior Unsecured Credit Facility, which includes a net debt-to-EBITDA financial covenant, is attached as Exhibit 10 and incorporated by reference herein. From the Closing Date until two years following the closing of the transactions contemplated by the Transaction Agreement, dated as of March 9, 2021, by and among General Electric Company, AerCap Holdings N.V. and other parties party thereto, such financial covenant excludes (i) debt originally issued or incurred by General Electric Capital Corporation prior to the Closing Date and debt guaranteed by General Electric Company that was originally issued by General Electric Capital Corporation, GE Capital Global Holdings, LLC or any of their respective subsidiaries prior to the Closing Date and (ii) consolidated EBITDA of GE Capital Global Holdings, LLC and any of its subsidiaries. As of the date hereof, GE has made no borrowings under the Amended Senior Unsecured Credit Facility.