On Friday, General Electric Company (NYSE:GE)’s shares declined -0.80% to $30.31.
General Electric Company (“GE”) declared that it has commenced an offer to exchange, on a one-for-one basis, new 5.00% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D, $1.00 par value, with a liquidation preference of $1,000 per share (the “New Preferred Stock”) for its existing three series of preferred stock (collectively, the “Old Preferred Stock”), comprising of its:
- 4.00% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A, $1.00 par value, with a liquidation preference of $1,000 per share (CUSIP No. 369604 BM4);
- 4.10% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series B, $1.00 par value, with a liquidation preference of $1,000 per share (CUSIP No. 369604 BN2); and
- 4.20% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series C, $1.00 par value, with a liquidation preference of $1,000 per share (CUSIP No. 369604 BP7).
In addition, each holder of GE’s Series A Preferred Stock will receive a cash payment of $10.00 per share of Series A Preferred Stock tendered by such holder and accepted in the exchange offer, and each holder of GE’s Series B Preferred Stock will receive a cash payment of $5.00 per share of Series B Preferred Stock tendered by such holder and accepted in the exchange offer.
The exchange offer will expire at 12:00 midnight, New York City time, at the end of the day on January 19, 2016, unless it is extended or terminated. The expiration date of this exchange offer will be at least 20 business days after the commencement of the exchange offer.
GE will exchange shares of New Preferred Stock for all of the outstanding shares of Old Preferred Stock that are validly tendered and not withdrawn, if all the conditions to the exchange offer are satisfied or waived. There is no record date for participating in this exchange offer.
General Electric Company operates as an infrastructure and financial services company worldwide. The company’s Power and Water segment offers gas, steam and aeroderivative turbines, nuclear reactors, generators, combined cycle systems, controls, and related services; wind turbines; and water treatment services and equipment.
NRG Energy Inc (NYSE:NRG)’s shares gained 9.03% to $10.38. The market capitalization of NRG Energy Inc (NYSE:NRG) is $3.26 billion with the total traded volume of the company is 21.49 million. The dividend yield amounts to 0.58 percent and the beta ratio has a value of 0.72.
NRG Energy, Inc., together with its auxiliaries, operates as a power company. The company provides electricity; system power, distributed generation, solar and wind products, backup generation, storage and distributed solar, demand response, energy efficiency, and on-site energy solutions; carbon administration and specialty services; and various energy services, such as operations, maintenance, technical, development, and asset administration services.
Diamond Offshore Drilling Inc (NYSE:DO)‘s shares dipped -3.44% to $20.47. The market capitalization of Diamond Offshore Drilling Inc (NYSE:DO) is $2.81 billion with the total traded volume of the company is 6.26 million. Turning to market valuation, the Price-to-Earnings ratio is 40.14, the Price-to-Sales ratio is 1.11 and the Price-to-Book ratio is finally 0.64. The dividend yield amounts to -0.57 percent and the beta ratio has a value of 1.35.
Diamond Offshore Drilling, Inc. provides contract drilling services to the energy industry worldwide. The company provides services in floater market, such as ultra-deepwater, deepwater, and mid-water; and non-floater or jack-up market.
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