Baker Hughes Issues $1.5B in Senior Notes

TL;DR

Baker Hughes just dropped $1.5B in new debt, 3.125% notes due 2034.

AI Summary

On October 22, 2024, Baker Hughes Company filed an 8-K report detailing the issuance of $1.5 billion in aggregate principal amount of 3.125% Senior Notes due 2034. These notes were issued by Baker Hughes Holdings LLC and Baker Hughes Co Obligor Inc. The filing also includes information regarding the results of operations, financial condition, and regulatory disclosures.

Why It Matters

This issuance of senior notes indicates Baker Hughes is raising capital, potentially for expansion, debt refinancing, or operational needs, which could impact its financial leverage and future growth prospects.

Risk Assessment

Risk Level: medium — Issuing significant debt can increase financial risk for a company, especially if market conditions change or if the funds are not used effectively.

Key Numbers

• $1.5B — Senior Notes Issued (Represents new debt financing for the company.)
• 3.125% — Interest Rate (The cost of borrowing for the new senior notes.)
• 2034 — Maturity Year (The year the principal amount of the notes is due.)

Key Players & Entities

• Baker Hughes Company (company) — Registrant
• Baker Hughes Holdings LLC (company) — Issuer of Senior Notes
• Baker Hughes Co Obligor Inc. (company) — Issuer of Senior Notes
• $1.5 billion (dollar_amount) — Aggregate principal amount of Senior Notes
• 3.125% (dollar_amount) — Interest rate of Senior Notes
• 2034 (date) — Maturity year of Senior Notes
• October 22, 2024 (date) — Date of Report

FAQ

Key Financial Figures

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

Filing Documents

• bkr-20241022.htm (8-K) — 33KB
• earningsreleaseex991093020.htm (EX-99.1) — 380KB
• bhlghrzrgbpos.jpg (GRAPHIC) — 305KB
• 0001701605-24-000129.txt ( ) — 1031KB
• bkr-20241022.xsd (EX-101.SCH) — 3KB
• bkr-20241022_def.xml (EX-101.DEF) — 16KB
• bkr-20241022_lab.xml (EX-101.LAB) — 29KB
• bkr-20241022_pre.xml (EX-101.PRE) — 17KB
• bkr-20241022_htm.xml (XML) — 4KB

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. On October 22, 2024, Baker Hughes Company (the "Company") issued a news release announcing its financial results for the quarter ended September 30, 2024, a copy of which is furnished with this Form 8-K as Exhibit 99.1 and incorporated herein by reference. In accordance with General Instructions B.2. of Form 8-K, the information shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the "Securities Act"), except as shall be expressly set forth by specific reference in such a filing. Following the issuance of the news release and the filing of this current report on Form 8-K, the Company will hold a conference call on Wednesday, October 23, 2024 at 9:30 a.m. Eastern Time, 8:30 a.m. Central Time, to discuss the earnings announcement. This scheduled conference call was previously announced on September 12, 2024. The conference call will broadcast live via a webcast that can be accessed by visiting the Company's website at: www.investors.bakerhughes.com . An archived version of the webcast will be available on the Company's website for one month following the webcast. In addition to financial results determined in accordance with Generally Accepted Accounting Principles ("GAAP") that were included in the news release, certain information discussed in the news release and to be discussed on the conference call could be considered non-GAAP financial measures (as defined under the Securities and Exchange Commission's ("SEC") Regulation G). Any non-GAAP financial measures should be considered in addition to, and not as an alternative for, or superior to, net income (loss), operating income (loss), cash flows or other measures of financial performance prepared in accordance with GAAP as more fully discussed in the Company's financial sta

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On October 22, 2024, the Company issued a news release, a copy of which is furnished with this Form 8-K as Exhibit 99.1 and incorporated into this Item 7.01 by reference. In accordance with General Instructions B.2. of Form 8-K, the information shall not be deemed "filed" for purposes of Section 18 of the Exchange Act, nor shall it be deemed incorporated by reference in any filing under the Securities Act, except as shall be expressly set forth by specific reference in such a filing. See Item 2.02, "Results of Operations and Financial Condition." Item 9.01 Financial Statements and Exhibits. (Information furnished in this Item 9.01 is furnished pursuant to Item 9.01.) (d) Exhibits. 99.1 News Release of Baker Hughes Company dated October 22, 2024 - Baker Hughes Company Announces Third Quarter Results 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) Page 2 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: October 22, 2024 By: /s/ Fernando Contreras Fernando Contreras Vice President, Legal Governance and Corporate Secretary

View Full Filing

View this 8-K filing on SEC EDGAR