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General Electric to redeem two series of fixed-to-floating debentures
By Angela McDaniels
Tacoma, Wash., July 17 – General Electric Co. will redeem its 5.5% fixed-to-floating euro-denominated subordinated debentures due 2067 and 6.5% fixed-to-floating British pound-denominated subordinated debentures due 2067, according to notices.
The redemption price is par plus accrued interest up to but excluding the redemption date, Sept. 15.
Because of the redemptions, GE Capital Trust II is required to redeem its 5.5% fixed-to-floating euro-denominated trust securities, and GE Capital Trust III must redeem its 6.5% fixed-to-floating pound-denominated trust securities.
The redemption price for the trust securities will be equal to the debentures redemption price received by the trust upon the redemption of a like amount of debentures.
The redemption date for the trust securities is also Sept. 15.
General Electric is a digital industrial company based in Boston. It is the successor to General Electric Capital Corp., the original issuer of the subordinated debentures.
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