TIDMGEC
RNS Number : 5456J
General Electric Company
14 April 2020
PRESS RELEASE
GE Announces Debt Tender Offers
GE Announces Offers to Purchase (1) Any and All of Certain of
its Outstanding U.S. Dollar Denominated, GBP Denominated and Euro
Denominated Notes (Listed on Table I Below), originally issued by
its subsidiaries and (2) Any and All of Certain of its Outstanding
U.S. Dollar Denominated and Euro Denominated Notes (Listed on Table
II Below).
BOSTON - April 13, 2020 - GE (NYSE:GE) announces its offers to
purchase for cash: (1) any and all of the U.S. Dollar Denominated,
Euro Denominated and GBP Denominated Notes listed on Table I below
(the "GECC Notes"), originally issued by, as applicable, General
Electric Capital Corporation ("GECC") (and assumed by GE), GE
Capital International Funding Company Unlimited Company (formerly
GE Capital International Funding Company), GE Capital European
Funding Unlimited Company (formerly GE Capital European Funding) or
GE Capital UK Funding Unlimited Company (formerly GE Capital UK
Funding) (collectively, the " Subsidiary Issuers "), and (2) any
and all of the U.S. Dollar Denominated and Euro Denominated Notes
listed on Table II below (the "GE Notes"), originally issued by GE.
The GECC Notes and the GE Notes are referred to collectively herein
as the "Notes" and such offers to purchase with respect to each
Offer, the "Offers" and each, an "Offer."
Each Offer is made upon the terms and subject to the conditions
set forth in the offer to purchase, dated April 13, 2020 (as may be
amended or supplemented from time to time, the "Offer to
Purchase"), and its accompanying notice of guaranteed delivery (the
"Notice of Guaranteed Delivery" and, together with the Offer to
Purchase, the "Tender Offer Documents"). Capitalized terms used but
not defined in this announcement have the meanings given to them in
the Offer to Purchase .
All documentation relating to the Offers, including the Offer to
Purchase and the Notice of Guaranteed Delivery, together with any
updates, are available from the Information Agent and the Tender
Agent, as set forth below, and will also be available via the Offer
Website: http://www.dfking.com/ge .
Timetable for the Offers
Date Calendar Dates
Commencement of the Offers... April 13, 2020.
Withdrawal 5:00 p.m. (Eastern time) on April 20, 2020, unless extended with respect
Date.................................. to any Offer.
Expiration 5:00 p.m. (Eastern time) on April 20, 2020, unless extended with respect
Date.................................. to any Offer.
..
Guaranteed Delivery Date............. 5:00 p.m. (Eastern time) on the second business day after the Expiration
Date, expected to
be on April 22, 2020, unless extended with respect to any Offer.
Settlement Expected to be the third business day after the Expiration Date and the
Date................................. first business day
after the Guaranteed Delivery Date. The expected Settlement Date is April
23, 2020, with respect
to each Offer unless extended with respect to such Offer.
Table I: GECC Notes Subject to the Offers
-----------------------------------------------------------------------------------------------------------------
Principal Amount
Applicable Outstanding ( Total
Title of Security Security Identifier(s) Maturity Date millions) Consideration (1)
------------------ --------------------------------- ------------------- ----------------- ------------------
2.250% Notes CUSIP : -
due 2020* ISIN : XS0954025267 July 20, 2020 EUR1,000 EUR1,005.00
4.375% Notes CUSIP : 36962G4R2
due 2020** ISIN : US36962G4R28 September 16, 2020 $1,267 $1,010.00
------------------ --------------------------------- ------------------- ----------------- ------------------
5.875% Notes CUSIP : - November 4, 2020 GBP500 GBP1,027.50
due 2020* ISIN : XS0463588052
------------------ --------------------------------- ------------------- ----------------- ------------------
CUSIPs : 36164NFF7; 36164PFF2;
36164QMS4
2.342% Notes ISINs : US36164NFF78;
due 2020*** US36164PFF27; US36164QMS48 November 15, 2020 $6,107 $1,002.50
------------------ --------------------------------- ------------------- ----------------- ------------------
Table II: GE Notes Subject to the Offers
-----------------------------------------------------------------------------------------------------------------
Acceptance Principal
Title of Security Priority Applicable Amount Outstanding Total Consideration
Security Identifier(s) Level (2) Maturity Date ( millions) (1)
--------------- ---------------------- ----------- --------------- -------------------- --------------------
2.700%
Notes due CUSIP : 369604BD4 October 9,
2022 ISIN : US369604BD45 1 2022 $3,000 $1,027.50
0.375%
Notes due CUSIP : 369604BR3
2022**** ISIN : XS1612542669 2 May 17, 2022 EUR 1,750 EUR983.75
--------------- ---------------------- ----------- --------------- -------------------- --------------------
1.250%
Notes due CUSIP : 369604BK8
2023**** ISIN : XS1238901166 3 May 26, 2023 EUR 1,191 EUR988.75
--------------- ---------------------- ----------- --------------- -------------------- --------------------
3.375%
Notes due CUSIP : 369604BG7 March 11,
2024** ISIN : US369604BG75 4 2024 $750 $1,033.75
--------------- ---------------------- ----------- --------------- -------------------- --------------------
Floating
Rate Notes CUSIP : 369604BJ1
due 2020**** ISIN : XS1238900515 5 May 28, 2020 EUR650 EUR1,000.00
--------------- ---------------------- ----------- --------------- -------------------- --------------------
* Admitted to trading on the London Stock Exchange.
** Admitted to trading on the Regulated Market of the Luxembourg Stock Exchange.
*** Admitted to trading on the Global Exchange Market of Euronext Dublin.
**** Listed on the New York Stock Exchange.
Issued by GE Capital European Funding Unlimited Company
(formerly known as GE Capital European Funding).
Originally issued by General Electric Capital Corporation and
assumed by General Electric Company.
Issued by GE Capital UK Funding Unlimited Company (formerly
known as GE Capital UK Funding).
Issued by GE Capital International Funding Company Unlimited
Company (formerly known as GE Capital International Funding
Company).
(1) Per $1,000, EUR1,000 or GBP1,000 principal amount of Notes.
(2) The Offers for the GECC Notes are not subject to any
Financing Condition (as described below). In the event the gross
proceeds from the New Offering are insufficient to fund any and all
of the GE Notes of a particular series validly tendered and not
validly withdrawn (after taking into account GE Notes of each
series accepted for purchase with a higher Acceptance Priority
Level), then no GE Notes of such series or any series of GE Notes
having a lower Acceptance Priority Level will be accepted for
purchase, in accordance with the Acceptance Priority Levels set
forth under "Description of the Offers-Conditions to the
Offers-Financing Condition" in the Offer to Purchase, so long as
the amount of gross proceeds from the New Offering is equal to or
greater than the aggregate Total Consideration (but excluding the
applicable Accrued Coupon Payment) for all GE Notes of each series
validly tendered and not validly withdrawn and each series of GE
Notes having a higher Acceptance Priority Level as further provided
herein. If the Financing Condition is not satisfied for a
particular series of GE Notes, then no GE Notes of such series or
any series of GE Notes having a lower Acceptance Priority Level
will be accepted for purchase. For more details, see "Description
of the Offers-Conditions to the Offers" in the Offer to
Purchase.
Purpose of the Offers
The primary purpose of the Offers is to acquire all outstanding
Notes listed on Table I and Table II above. Each Offer is subject
to the satisfaction of certain conditions as more fully described
under the heading "-Conditions to the Offers" in the Offer to
Purchase, including, among other things, with respect to the Offers
for the GE Notes, the Financing Condition. Notes that are accepted
in the Offers will be purchased, retired and cancelled by GE or its
subsidiaries, as applicable, and will no longer remain outstanding
obligations of GE or any of its subsidiaries.
Details of the Offers
The Offers will expire at 5:00 p.m. (Eastern time) on April 20,
2020 with respect to any Offer (as the same may be extended with
respect to such Offer, the "Expiration Date"). Tendered Notes may
be withdrawn at any time prior to 5:00 p.m. (Eastern time), on
April 20, 2020 with respect to each Offer (as the same may be
extended with respect to any Offer, the "Withdrawal Date"), but not
thereafter, except as required by applicable law as described in
the Offer to Purchase. None of the Offers is conditioned upon
completion of any of the other Offers, and each Offer otherwise
operates independently from the other Offers. None of the Offers is
conditioned on any minimum amount of Notes being tendered.
For a Holder who holds Notes through DTC to validly tender Notes
pursuant to the Offers, an Agent's Message and any other required
documents must be received by the Tender Agent at its address set
forth on the Offer to Purchase at or prior to the Expiration Date
or, if pursuant to the Guaranteed Delivery Procedures, at or prior
to 5:00 p.m. (Eastern time), on April 22, 2020 (the "Guaranteed
Delivery Date"). For a Holder who holds Notes through Clearstream
or Euroclear to validly tender Notes pursuant to the Offers, such
Holder must tender such Notes by the submission of valid Tender
Instructions in accordance with the procedures described herein and
of such Clearing System, as applicable. There is no letter of
transmittal for the Offer to Purchase.
Upon the terms and subject to the conditions set forth in the
Tender Offer Documents, Holders who (i) validly tender Notes at or
prior to the Expiration Date (and do not validly withdraw such
Notes at or prior to the Withdrawal Date), or (ii) deliver a
properly completed and duly executed Notice of Guaranteed Delivery
(or comply with ATOP procedures applicable to guaranteed delivery)
and all other required documents at or prior to the Expiration Date
and validly tender their Notes at or prior to the Guaranteed
Delivery Date pursuant to Guaranteed Delivery Procedures, and, in
each case, whose Notes are accepted for purchase by us, will
receive the applicable Total Consideration for each $1,000,
EUR1,000 or GBP1,000 principal amount of Notes, as applicable, as
set forth on Table I and Table II above, which will be payable in
cash. GE is authorized to accept and pay for, on behalf of each
Subsidiary Issuer, all validly tendered and not validly withdrawn
Notes issued by Subsidiary Issuers that are accepted for purchase
by GE.
Each Offer is subject to certain conditions. Subject to GE's
right, in its sole discretion, to amend, extend, or terminate any
Offer individually, the Financing Condition (as defined below) with
respect to Offers for GE Notes, and certain customary conditions,
which, subject to applicable law and limitations described in the
Offer to Purchase, GE may waive in its sole discretion.
The Offers for any and all of the GECC Notes will be funded by
cash on hand, including a portion of the proceeds of the sale of
the Biopharma business completed on March 31, 2020, and are not
subject to the Financing Condition. The Offers for the GE Notes are
conditioned on the successful completion, after the date hereof and
prior to the Expiration Date, of an offering by GE of notes with
stated maturities occurring after March 11, 2024 (the "New
Offering") on terms and conditions satisfactory to GE, in its sole
discretion, including, but not limited to, with respect to each
series of GE Notes, the amount of gross proceeds raised in the New
Offering being sufficient to fund the aggregate Total Consideration
(but excluding the applicable Accrued Coupon Payment) for all GE
Notes of such series (after funding the aggregate Total
Consideration (but excluding the applicable Accrued Coupon Payment)
for all validly tendered and not validly withdrawn GE Notes of each
series having a higher Acceptance Priority Level (as indicated in
Table II above)) tendered in the applicable Offer for GE Notes (the
"Financing Condition"). In the event the gross proceeds from the
New Offering are insufficient to fund any and all of the GE Notes
of a particular series validly tendered and not validly withdrawn
(after taking into account GE Notes of each series accepted for
purchase with a higher Acceptance Priority Level), then no GE Notes
of such series or any series of GE Notes having a lower Acceptance
Priority Level will be accepted for purchase, in accordance with
the Acceptance Priority Levels set forth under the Offer to
Purchase, so long as the amount of gross proceeds from the New
Offering is equal to or greater than the aggregate Total
Consideration (but excluding the applicable Accrued Coupon Payment)
for all GE Notes of each series validly tendered and not validly
withdrawn and each series of GE Notes having a higher Acceptance
Priority Level as further provided in the Offer to Purchase. If the
Financing Condition is not satisfied for a particular series of GE
Notes, then no GE Notes of such series or any series of GE Notes
having a lower Acceptance Priority Level will be accepted for
purchase.
For further details on the procedures for tendering the Notes,
please refer to the Offer to Purchase, including the procedures set
out under the heading "Description of the Offers-Procedures for
Tendering Notes" in the Offer to Purchase.
GE has retained BofA Securities, Inc., J.P. Morgan Securities
LLC and Morgan Stanley & Co. LLC to act as the Lead Dealer
Managers, and BNP Paribas Securities Corp., Credit Suisse
Securities (USA) LLC, Deutsche Bank Securities Inc., Mizuho
Securities USA LLC and SMBC Nikko Securities America, Inc. to act
as Co-Managers, in connection with the Offers (collectively, the
"Dealer Managers"). Questions regarding terms and conditions of the
Offers should be directed to BofA Securities at +1 (888) 292-0070
(toll free), +1 (704) 999-4067 (collect), or Merrill Lynch
International at +44 20 7996 5420, to J.P. Morgan Securities LLC at
+1 (866) 834-4666 (toll free), +1 (212) 834-3424 (collect), or J.P.
Morgan Securities plc at +44 20 7134 2468, or to Morgan Stanley
& Co. LLC at +1 (800) 624-1808 (toll free), +1 (212) 761-1057
(collect), or Morgan Stanley & Co. International plc at +44 207
677 5040.
D.F. King has been appointed as information agent and tender
agent (the "Information Agent and Tender Agent") in connection with
the Offers. Questions or requests for assistance in connection with
the Offers or the delivery of Tender Instructions, or for
additional copies of the Tender Offer Documents, may be directed to
the Information Agent and Tender Agent at +1 (800) 499-8541 (toll
free), +1 (212) 269-5550 (collect), or +44 20 7920 9700 (collect),
or via e-mail at ge@dfkingltd.com. You may also contact your
broker, dealer, commercial bank, trust company or other nominee for
assistance concerning the Offers. The Tender Offer Documents can be
accessed at the Offer Website: http://www.dfking.com/ge .
GE reserves the right, in its sole discretion, not to accept any
Tender Instructions, not to purchase any Notes or to extend,
re-open, withdraw or terminate any Offer and to amend or waive any
of the terms and conditions of any Offer in any manner, subject to
applicable laws and regulations.
Holders are advised to read carefully the Offer to Purchase for
full details of and information on the procedures for participating
in the Offer, as applicable.
Holders are advised to check with any bank, securities broker or
other intermediary through which they hold the Notes when such
intermediary would require to receive instructions from a Holder in
order for that the Holder to be able to participate in the Offers
before the deadlines specified above. The deadlines set by any such
intermediary and each Clearing System for the submission of Tender
Instructions will be earlier than the relevant deadlines specified
above.
Unless stated otherwise, announcements in connection with the
Offers will be made available on GE's website at www.genewsroom.com
. Such announcements may also be made by (i) the issue of a press
release and (ii) the delivery of notices to the Clearing Systems
for communication to Direct Participants. Copies of all such
announcements, press releases and notices can also be obtained from
the Information Agent and Tender Agent, the contact details for
whom are set out below. Significant delays may be experienced where
notices are delivered to the Clearing Systems and Holders are urged
to contact the Information Agent and Tender Agent for the relevant
announcements relating to the Offers. In addition, all
documentation relating to the Offer to Purchase, together with any
updates, will be available via the Offer Website:
http://www.dfking.com/ge .
DISCLAIMER This announcement must be read in conjunction with
the Offer to Purchase. This announcement and the Offer to Purchase
contain important information which should be read carefully before
any decision is made with respect to the Offers. If you are in any
doubt as to the contents of this announcement or the Offer to
Purchase or the action you should take, you are recommended to seek
your own financial, legal and tax advice, including as to any tax
consequences, immediately from your broker, bank manager,
solicitor, accountant or other independent financial or legal
adviser. Any individual or company whose Notes are held on its
behalf by a broker, dealer, bank, custodian, trust company or other
nominee or intermediary must contact such entity if it wishes to
participate in the Offers.
None of GE, the Subsidiary Issuers, the Dealer Managers, the
Trustee, the Paying Agents, the Tender Agent or the Information
Agent or any of their respective directors, officers, employees,
agents or affiliates makes any recommendation as to whether or not
Holders should tender their Notes in the Offers.
None of GE, the Subsidiary Issuers, the Dealer Managers, the
Trustee, the Paying Agents, the Tender Agent or the Information
Agent or any of their respective directors, officers, employees,
agents or affiliates assumes any responsibility for the accuracy or
completeness of the information concerning GE, the Notes, or the
Offers contained in this announcement or in the Offer to Purchase.
None of GE, the Subsidiary Issuers, the Dealer Managers, the
Trustee, the Paying Agents, the Tender Agent, the Information Agent
or any of their respective directors, officers, employees, agents
or affiliates is acting for any Holder, or will be responsible to
any Holder for providing any protections which would be afforded to
its clients or for providing advice in relation to the Offers, and
accordingly none of GE, the Subsidiary Issuers, the Dealer
Managers, the Trustee, the Paying Agents, the Tender Agent, the
Information Agent or any of their respective directors, officers,
employees, agents or affiliates assumes any responsibility for any
failure by GE to disclose information with regard to GE or Notes
which is material in the context of the Offers and which is not
otherwise publicly available.
General
This announcement is for informational purposes only. This
announcement is not an offer to purchase or a solicitation of an
offer to purchase any Notes or any other securities of GE or any of
its subsidiaries. The Offers are being made solely pursuant to the
Offer to Purchase. The Offers are not being made to Holders of
Notes in any jurisdiction in which the making or acceptance thereof
would not be in compliance with the securities, blue sky or other
laws of such jurisdiction. In any jurisdiction in which the
securities laws or blue sky laws require the Offers to be made by a
licensed broker or dealer, the Offers will be deemed to be made on
behalf of GE by the dealer managers or one or more registered
brokers or dealers that are licensed under the laws of such
jurisdiction.
No action has been or will be taken in any jurisdiction that
would permit the possession, circulation or distribution of either
this announcement, the Offer to Purchase or any material relating
to us, the Subsidiary Issuers or the Notes in any jurisdiction
where action for that purpose is required. Accordingly, neither
this announcement, the Offer to Purchase nor any other offering
material or advertisements in connection with the Offers may be
distributed or published, in or from any such country or
jurisdiction, except in compliance with any applicable rules or
regulations of any such country or jurisdiction.
The distribution of this announcement and the Offer to Purchase
in certain jurisdictions may be restricted by law. Persons into
whose possession this announcement or the Offer to Purchase comes
are required by us, the Subsidiary Issuers, the Dealer Managers,
the Information Agent and Tender Agent to inform themselves about,
and to observe, any such restrictions.
This communication has not been approved by an authorized person
for the purposes of Section 21 of the Financial Services and
Markets Act 2000, as amended (the "FSMA"). Accordingly, this
communication is not being directed at persons within the United
Kingdom save in circumstances where section 21(1) of the FSMA does
not apply.
In particular, this communication is only addressed to and
directed at: (A) in any Member State of the European Economic Area
that has implemented the Prospectus Directive (as defined below),
qualified investors in that Member State within the meaning of the
Prospectus Directive and (B) (i) persons that are outside the
United Kingdom or (ii) persons in the United Kingdom falling within
the definition of investment professionals (as defined in Article
19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005 (the "Financial Promotion Order")) or within
Article 43 of the Financial Promotion Order, or to other persons to
whom it may otherwise lawfully be communicated by virtue of an
exemption to Section 21(1) of the FSMA or otherwise in circumstance
where it does not apply (such persons together being "relevant
persons"). The New Offering is only available to, and any
invitation, offer or agreement to subscribe, purchase or otherwise
acquire notes in the New Offering will be engaged in only with,
relevant persons. Any person who is not a relevant person should
not act or rely on the preliminary prospectus supplement to the New
Offering or any of its contents. For purposes of the foregoing, the
"Prospectus Directive" means the Prospectus Directive 2003/71/EC,
as amended, including pursuant to Directive 2010/73/EU.
Neither this announcement nor the Offer to Purchase, or the
electronic transmission thereof, constitutes an offer to sell or
buy Notes, as applicable, in any jurisdiction in which, or to or
from any person to or from whom, it is unlawful to make such offer
or solicitation under applicable securities laws or otherwise. The
distribution of this announcement in certain jurisdictions may be
restricted by law. In those jurisdictions where the securities,
blue sky or other laws require the Offers to be made by a licensed
broker or dealer and the Dealer Managers or any of their respective
affiliates is such a licensed broker or dealer in any such
jurisdiction, the Offers shall be deemed to be made by the Dealer
Managers or such affiliate (as the case may be) on behalf of GE in
such jurisdiction.
Each Holder participating in the Offers will give certain
representations in respect of the jurisdictions referred to above
and generally as set out in herein. Any tender of Notes pursuant to
the Offers from a Holder that is unable to make these
representations will not be accepted. Each of GE, the Dealer
Managers, the Tender Agent and Information Agent reserves the
right, in its absolute discretion, to investigate, in relation to
any tender of Notes pursuant to the Offers, whether any such
representation given by a Holder is correct and, if such
investigation is undertaken and as a result GE determines (for any
reason) that such representation is not correct, such tender shall
not be accepted.
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 expected timing,
size or other terms of the Offers or the New Offering; our ability
to complete the Offers; the potential impacts of the COVID-19
pandemic on our business operations, financial results and
financial position and on the world economy; our expected financial
performance, including cash flows, revenues, organic growth,
margins, earnings and earnings per share; macroeconomic and market
conditions and volatility; planned and potential business or asset
dispositions; our de-leveraging plans, including leverage ratios
and targets, the timing and nature of actions to reduce
indebtedness and our credit ratings and outlooks; GE Capital Global
Holdings, LLC ("GE Capital") and our funding and liquidity; our
businesses' cost structures and plans to reduce costs;
restructuring, goodwill impairment or other financial charges;
planned and potential business or asset dispositions; or tax
rates.
For us, particular 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
severity, magnitude and duration of the COVID-19 pandemic,
including impacts of the pandemic and of businesses' and
governments' responses to the pandemic on our operations and
personnel, and on commercial activity and demand across our and our
customers' and suppliers' businesses, and on global supply chains;
our inability to predict the extent to which the COVID-19 pandemic
and related impacts will continue to adversely impact our business
operations, financial performance, results of operations, financial
position, the prices of our securities and the achievement of our
strategic objectives; changes in macroeconomic and market
conditions and market volatility (including developments and
volatility arising from the COVID-19 pandemic), including interest
rates, the value of securities and other financial assets
(including our equity ownership position in Baker Hughes), oil and
other commodity prices and exchange rates, and the impact of such
changes and volatility on our financial position; our de-leveraging
and capital allocation plans, including with respect to actions to
reduce our indebtedness, the timing and amount of GE dividends,
organic investments, and other priorities; further downgrades of
our current short- and long-term credit ratings or ratings
outlooks, or changes in rating application or methodology, and the
related impact on our liquidity, funding profile, costs and
competitive position; GE's liquidity and the amount and timing of
our GE Industrial cash flows and earnings, which may be impacted by
customer, supplier, competitive, contractual and other dynamics and
conditions; GE Capital's capital and liquidity needs, including in
connection with GE Capital's run-off insurance operations and
discontinued operations; the amount and timing of required capital
contributions to the insurance operations and any strategic actions
that we may pursue; the impact of conditions in the financial and
credit markets on GE Capital's ability to sell financial assets;
the availability and cost of funding; and GE Capital's exposure to
particular counterparties and markets; our success in executing and
completing asset dispositions or other transactions, including our
plan to exit our equity ownership position in Baker Hughes,
the timing of closing for such transactions and the expected
proceeds and benefits to GE; global economic trends, competition
and geopolitical risks, including changes in the rates of
investment or economic growth in key markets we serve, or an
escalation of trade tensions such as those between the U.S. and
China; market developments or customer actions that may affect
levels of demand and the financial performance of the major
industries and customers we serve, such as secular, cyclical and
competitive pressures in our Power business, pricing and other
pressures in the renewable energy market, levels of demand for air
travel and other customer dynamics such as early aircraft
retirements, conditions in key geographic markets and other shifts
in the competitive landscape for our products and services;
operational execution by our businesses, including our ability to
improve the operations and execution of our Power and Renewable
Energy businesses, and the performance of our Aviation business;
changes in law, regulation or policy that may affect our
businesses, such as trade policy and tariffs, regulation related to
climate change and the effects of U.S. tax reform and other tax law
changes; our decisions about investments in new products, services
and platforms, and our ability to launch new products in a
cost-effective manner; our ability to increase margins through
implementation of operational changes, restructuring and other cost
reduction measures; the impact of regulation and regulatory,
investigative and legal proceedings and legal compliance risks,
including the impact of Alstom, SEC and other investigative and
legal proceedings; the impact of actual or potential failures of
our products or third-party products with which our products are
integrated, such as the fleet grounding of the Boeing 737 MAX and
the timing of its return to service and return to delivery, and
related reputational effects; the impact of potential information
technology, cybersecurity or data security breaches; and the other
factors that are described in "Risk Factors" in the Offer to
Purchase and in GE's Annual Report on Form 10-K for the year ended
December 31, 2019, as such descriptions may be updated or amended
in any future reports we file with the SEC.
These or other uncertainties may cause our actual future results
to be materially different than those expressed in our
forward-looking statements. Forward-looking statements speak only
as of the date they were made, and we disclaim and we do not
undertake any obligation to update or revise any forward-looking
statement in this announcement, except as required by applicable
law or regulation.
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 Investor Contact
Steve Winoker, 617.443.3400
swinoker@ge.com
GE Media Contact
Mary Kate Mullaney, 202.304.6514
marykate.nevin@ge.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
TENVZLBFBZLEBBQ
(END) Dow Jones Newswires
April 14, 2020 04:59 ET (08:59 GMT)
General Electric (LSE:GEC)
Historical Stock Chart
From Jun 2024 to Jul 2024
General Electric (LSE:GEC)
Historical Stock Chart
From Jul 2023 to Jul 2024