Baker Hughes Prices $1.5B Senior Notes Due 2040
Ticker: BKR · Form: 8-K · Filed: Jan 30, 2025 · CIK: 1701605
| Field | Detail |
|---|---|
| Company | Baker Hughes CO (BKR) |
| Form Type | 8-K |
| Filed Date | Jan 30, 2025 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt-offering, financing, notes
Related Tickers: BKR
TL;DR
Baker Hughes just sold $1.5B in 5.125% notes due 2040. Closing Feb 6.
AI Summary
On January 30, 2025, Baker Hughes Company announced the pricing of $1.5 billion aggregate principal amount of its 5.125% Senior Notes due 2040. The notes are being issued by Baker Hughes Holdings LLC and Baker Hughes Co Obligor Inc. This offering is expected to close on February 6, 2025, subject to customary closing conditions.
Why It Matters
This debt issuance provides Baker Hughes with capital, potentially for general corporate purposes or strategic initiatives, impacting its financial structure and future investment capacity.
Risk Assessment
Risk Level: low — This is a standard debt issuance announcement with no immediate negative implications for the company's operations or financial health.
Key Numbers
- $1.5B — Senior Notes Principal (Amount raised through debt issuance)
- 5.125% — Senior Notes Interest Rate (Cost of borrowing for the company)
- 2040 — Senior Notes Maturity (Long-term debt commitment)
Key Players & Entities
- Baker Hughes Company (company) — Registrant
- Baker Hughes Holdings LLC (company) — Issuer of notes
- Baker Hughes Co Obligor Inc. (company) — Issuer of notes
- $1.5 billion (dollar_amount) — Aggregate principal amount of Senior Notes
- 5.125% (dollar_amount) — Interest rate on Senior Notes
- 2040 (date) — Maturity year of Senior Notes
- January 30, 2025 (date) — Date of report
- February 6, 2025 (date) — Expected closing date
FAQ
What is the purpose of the $1.5 billion Senior Notes issuance?
The filing states the notes are for general corporate purposes, which may include funding operations, capital expenditures, or strategic initiatives.
Who are the specific entities issuing the Senior Notes?
The notes are being issued by Baker Hughes Holdings LLC and Baker Hughes Co Obligor Inc.
When is the expected closing date for this debt offering?
The offering is expected to close on February 6, 2025.
What is the interest rate and maturity date of the new Senior Notes?
The notes carry a 5.125% interest rate and mature in 2040.
Are there any specific conditions that could prevent the closing of the offering?
The closing is subject to customary closing conditions, meaning standard legal and financial requirements must be met.
Filing Stats: 864 words · 3 min read · ~3 pages · Grade level 9.9 · Accepted 2025-01-30 17:10:06
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-20250130.htm (8-K) — 33KB
- earningsreleaseex991123120.htm (EX-99.1) — 460KB
- bhlghrzrgbposa.jpg (GRAPHIC) — 305KB
- 0001701605-25-000014.txt ( ) — 1103KB
- bkr-20250130.xsd (EX-101.SCH) — 3KB
- bkr-20250130_def.xml (EX-101.DEF) — 6KB
- bkr-20250130_lab.xml (EX-101.LAB) — 28KB
- bkr-20250130_pre.xml (EX-101.PRE) — 17KB
- bkr-20250130_htm.xml (XML) — 4KB
02 Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition. On January 30, 2025, Baker Hughes Company (the "Company") issued a news release announcing its financial results for the quarter and year ended December 31, 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 Friday, January 31, 2025 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 December 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
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On January 30, 2025, 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 January 30, 2025 - Baker Hughes Company Announces Fourth Quarter and Total Year 2024 Results 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) Page 2
SIGNATURES
SIGNATURES 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 30, 2025 By: /s/ Fernando Contreras Fernando Contreras Vice President, Legal Governance and Corporate Secretary