April 20, 2020 / 10:06 PM / 2 months ago

GE enters into $15 billion loan agreement

FILE PHOTO: The General Electric Co. logo is seen on the company's corporate headquarters building in Boston, Massachusetts, U.S. July 23, 2019.REUTERS/Alwyn Scott

(Reuters) - General Electric Co (GE.N) entered into a revolving credit agreement for $15 billion, according to a regulatory filing on Monday.

The current agreement is set to mature on April 17, 2023 and refinances the company’s prior $20 billion revolving credit facility that was scheduled to mature in May 2021.

The reduced loan size is a testimony to a changing bank landscape where companies seek to get better compensated for the risk they take to lend as volatility rattles the markets amid the COVID-19 pandemic. (bit.ly/2RStv8Q)

Reporting by Akanksha Rana in Bengaluru; Editing by Maju Samuel

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