The company will also freeze supplementary pension benefits for about 700 U.S. employees, and these actions are expected to reduce net debt between $4 billion and $6 billion, GE said. GE and its finance arm had total borrowings of about $105.8 billion as of June 30, with industrial net debt at $54.4 billion. The company has announced net debt reduction actions of between $9 billion and $11 billion, including tender offers to purchase up to $5 billion of its existing debt, in the past one month. …read more
Source:: Yahoo Finance
