Baker Hughes Enters Material Agreement, New Financial Obligation

TL;DR

**Baker Hughes just took on a new major financial obligation, watch for details.**

AI Summary

Baker Hughes Company and Baker Hughes Holdings LLC filed an 8-K on January 5, 2024, reporting events as of December 31, 2023, related to a Material Definitive Agreement and the Creation of a Direct Financial Obligation. This filing indicates that Baker Hughes has entered into a significant new financial commitment or agreement, which could impact its future financial performance and obligations. For investors, this matters because new financial obligations or agreements can affect the company's cash flow, profitability, and overall risk profile, potentially influencing stock valuation.

Why It Matters

This filing signals Baker Hughes has taken on a new significant financial commitment, which could alter its balance sheet and future earnings, directly impacting shareholder value.

Risk Assessment

Risk Level: medium — The filing indicates a new material definitive agreement and financial obligation, the specifics of which are not detailed, introducing uncertainty about its impact.

Analyst Insight

A smart investor would monitor Baker Hughes's upcoming financial disclosures for specific details on the nature and terms of the new material definitive agreement and financial obligation to assess its impact on the company's financial health and future prospects.

Key Players & Entities

• Baker Hughes Company (company) — registrant in the 8-K filing
• Baker Hughes Holdings LLC (company) — registrant in the 8-K filing
• December 31, 2023 (date) — date of earliest event reported
• January 5, 2024 (date) — filing date of the 8-K

Forward-Looking Statements

• Baker Hughes will provide more details on the 'Material Definitive Agreement' and 'Direct Financial Obligation' in its next quarterly or annual report. (Baker Hughes Company) — high confidence, target: Q1 2024 Earnings Report

FAQ

Key Financial Figures

• $0.0001 — stered Class A Common Stock, par value $0.0001 per share BKR The Nasdaq Stock Mark

Filing Documents

• d10294d8k.htm (8-K) — 39KB
• d10294dex41.htm (EX-4.1) — 30KB
• d10294dex42.htm (EX-4.2) — 31KB
• d10294dex43.htm (EX-4.3) — 29KB
• 0001193125-24-003365.txt ( ) — 312KB
• bkr-20231231.xsd (EX-101.SCH) — 5KB
• bkr-20231231_cal.xml (EX-101.CAL) — 1KB
• bkr-20231231_def.xml (EX-101.DEF) — 14KB
• bkr-20231231_lab.xml (EX-101.LAB) — 22KB
• bkr-20231231_pre.xml (EX-101.PRE) — 14KB
• d10294d8k_htm.xml (XML) — 5KB

01

Item 1.01 Entry into a Material Definitive Agreement. On December 31, 2023, Baker Hughes Company ("Baker Hughes"), Baker Hughes Holdings LLC ("BHH LLC"), Baker Hughes Co-Obligor, Inc. ("Co-Obligor") and The Bank of New York Mellon Trust Company, N.A., as trustee (the "Trustee") entered into a seventh supplemental indenture (the "2008 Supplemental Indenture") to the indenture, dated October 28, 2008, by and among BHH LLC, the other obligors thereunder and the Trustee (as amended and supplemented, the "2008 Indenture"). Also on December 31, 2023, Baker Hughes, BHH LLC, Co-Obligor, Baker Hughes Oilfield Operations, LLC, Baker Hughes International Branches, LLC and the Trustee entered into a second supplemental indenture (the "1994 Supplemental Indenture") to the indenture, dated May 15, 1994, by and among BHH LLC, the other obligors thereunder and the Trustee (as amended and supplemented, the "1994 Indenture"). On December 31, 2023, Baker Hughes, BHH LLC, Co-Obligor and the Trustee also entered into a second supplemental indenture (the "1991 Supplemental Indenture" and, together with the 2008 Supplemental Indenture and the 1994 Supplemental Indenture, the "Supplemental Indentures") to the indenture, dated May 15, 1991, by and among BHH LLC, the other obligors thereunder and the Trustee (as amended and supplemented, the "1991 Indenture" and, together with the 2008 Indenture and 1994 Indenture, the "Indentures"). Under the Supplemental Indentures, Baker Hughes, the indirect parent of BHH LLC, Co-Obligor, BH Oilfield Operations and BH International Branches, has agreed to fully and unconditionally guarantee (the "Parent Guarantees") each series of debt securities issued and currently outstanding under the Indentures. In accordance with Rule 3-10 of Regulation S-X and Rule 12h-5 of the Exchange Act, BHH LLC, as an issuer of debt securities that are fully and unconditionally guaranteed by its parent company, is exempt from the requirements of the Exchange Act. Theref

03 Creation of a Direct Financial Obligations or an Obligation under an Off-Balance

Item 2.03 Creation of a Direct Financial Obligations or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information provided under Item 1.01 in this Current Report on Form 8-K regarding the Supplemental Indentures and the Parent Guarantees is incorporated by reference into this Item 2.03.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit Description 4.1 Seventh Supplemental Indenture, dated as of December 31, 2023, by and among Baker Hughes Holdings LLC and Baker Hughes Co-Obligor, Inc., as Existing Obligors, Baker Hughes Company, as Parent Guarantor, and The Bank of New York Mellon Trust Company, N.A., as Trustee. 4.2 Second Supplemental Indenture, dated as of December 31, 2023, by and among Baker Hughes Holdings LLC, Baker Hughes Co-Obligor, Inc., Baker Hughes Oilfield Operations, LLC and Baker Hughes International Branches, LLC, as Existing Obligors, Baker Hughes Company, as Parent Guarantor, and The Bank of New York Mellon Trust Company, N.A., as Trustee. 4.3 Second Supplemental Indenture, dated as of December 31, 2023, by and among Baker Hughes Holdings LLC and Baker Hughes Co-Obligor, Inc., as Existing Obligors, Baker Hughes Company, as Parent Guarantor, and The Bank of New York Mellon Trust Company, N.A., as Trustee. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). Signature Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BAKER HUGHES COMPANY Dated: January 5, 2024 By: /s/ Fernando Contreras Fernando Contreras Vice President and Corporate Secretary BAKER HUGHES HOLDINGS LLC Dated: January 5, 2024 By: /s/ Fernando Contreras Fernando Contreras Vice President and Corporate Secretary

View Full Filing

View this 8-K filing on SEC EDGAR