NEW YORK (LPC) – General Electric Co is asking its lenders to replace US$20bn in revolving loans with a new debt package that will come with a smaller size and shorter maturities, sources said.
FILE PHOTO: The logo of U.S. conglomerate General Electric is seen on the company building in Belfort, France, October 19, 2019. REUTERS/Vincent Kessler
The new loans, that will come at the reduced size of US$15bn, are a testament to a changing bank landscape as firms seek to get better compensated for the risk they take to lend as volatility rattles the markets.
A shorter commitment window