Baker Hughes Successfully Prices Offerings of Senior Notes

06 Mar Baker Hughes Successfully Prices Offerings of Senior Notes

(Oilandgaspress) – Baker Hughes Company successfully priced a $6.5 billion debt offering consisting of five tranches of senior unsecured notes and a €3 billion debt offering consisting of four tranches of senior unsecured notes (collectively, the “notes”):

$500 million 4.050% Senior Notes due 2029
$1.25 billion 4.350% Senior Notes due 2031
$750 million 4.650% Senior Notes due 2033
$2 billion 5.000% Senior Notes due 2036
$2 billion 5.850% Senior Notes due 2056
€600 million 3.226% Senior Notes due 2030
€900 million 3.812% Senior Notes due 2034
€750 million 4.193% Senior Notes due 2038
€750 million 4.737% Senior Notes due 2046

The notes will be issued by Baker Hughes’ wholly owned subsidiary, Baker Hughes Holdings LLC (“BHH LLC”) and by BHH LLC’s wholly owned subsidiary Baker Hughes Holdings Co-Obligor, Inc. (“Co-Obligor” and, together with BHH LLC, the “Issuers”), and will be fully and unconditionally guaranteed on a senior unsecured basis by Baker Hughes.

Baker Hughes intends to use the net proceeds of the offerings to fund a portion of the cash consideration for Baker Hughes’ proposed acquisition of all outstanding shares of common stock of Chart Industries, Inc. (the “Chart acquisition”). The notes will be subject to a special mandatory redemption (at a price equal to 101% of the aggregate principal amount of such series of notes) under certain circumstances if the Chart acquisition is not consummated.

The notes offerings are expected to close on March 11, 2026, subject to satisfaction of customary closing conditions.

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