By Michael Dabaie

General Electric Co. said it expects to repurchase about $25 billion in aggregate principal amount in its upsized debt tender offers.

GE said it now expects to achieve more than $80 billion in gross debt reduction between the end of 2018 and the end of 2021.

A total of about $33.3 billion in aggregate principal amount of the securities were validly tendered and not withdrawn at or prior to the early participation date, GE said. GE said it accepted for purchase a total of about $25 billion.

GE said earlier in November it was launching a debt tender offering, using proceeds from the recently closed AerCap GECAS transaction to reduce debt.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

November 26, 2021 08:40 ET (13:40 GMT)

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