12 October 2022 | Other

GE HealthCare to carry $15 billion in debt after its January spinoff

General Electric Co., which provides comprehensive healthcare solutions, will carry about $15.4 billion in debt and pension liabilities when it spins off the health-care unit in January. 

The documents filed with the Securities and Exchange Commission Tuesday revealed that the balance of the new health-care unit would include about $10.2 billion in senior notes and term loans and about $5.2 billion in pension and other liabilities. 

GE HealthCare's capital will include about $1.8 billion in cash. In addition to this, the company plans to get a $3.5 billion credit. As reported by company officials, these facilities will not be used to spin off the unit.

The procedure is just part of the corporation's restructuring. Last November, CEO Larry Culp announced that GE would also combine its renewable energy, fossil fuel power, and digital units into a single one and spin it off. The breaking off is scheduled for 2024. 

The company’s aerospace division GE Aviation will be the third company and it will change its name to General Electric. 

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