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

From the Filing

0001701605-24-000129.txt : 20241022 0001701605-24-000129.hdr.sgml : 20241022 20241022171431 ACCESSION NUMBER: 0001701605-24-000129 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 20241022 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20241022 DATE AS OF CHANGE: 20241022 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Baker Hughes Co CENTRAL INDEX KEY: 0001701605 STANDARD INDUSTRIAL CLASSIFICATION: OIL & GAS FILED MACHINERY & EQUIPMENT [3533] ORGANIZATION NAME: 06 Technology IRS NUMBER: 814403168 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-38143 FILM NUMBER: 241387047 BUSINESS ADDRESS: STREET 1: 575 NORTH DAIRY ASHFORD ROAD, SUITE 100 CITY: HOUSTON STATE: TX ZIP: 77079-1121 BUSINESS PHONE: 713-439-8600 MAIL ADDRESS: STREET 1: 575 NORTH DAIRY ASHFORD ROAD, SUITE 100 CITY: HOUSTON STATE: TX ZIP: 77079-1121 FORMER COMPANY: FORMER CONFORMED NAME: Baker Hughes a GE Co DATE OF NAME CHANGE: 20170703 FORMER COMPANY: FORMER CONFORMED NAME: Bear Newco, Inc. DATE OF NAME CHANGE: 20170321 8-K 1 bkr-20241022.htm 8-K bkr-20241022 0001701605 false 0001701605 2024-10-22 2024-10-22 0001701605 bkr:A5.125SeniorNotesDue2040OfBakerHughesHoldingsLLCAndBakerHughesCoObligorInc.Domain 2024-10-22 2024-10-22 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549   FORM 8-K   CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 22, 2024 Baker Hughes Company   (Exact name of registrant as specified in charter)   Delaware   1-38143   81-4403168 (State of Incorporation)   (Commission File No.)   (I.R.S. Employer Identification No.) 575 N. Dairy Ashford Rd., Suite 100 Houston, Texas 77079-1121 (Address of Principal Executive Offices) (Zip Code) Registrant’s telephone number, including area code: ( 713 )  439-8600 (former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol Name of each exchange on which registered Class A Common Stock, par value $0.0001 per share BKR The Nasdaq Stock Market LLC 5.125% Senior Notes due 2040 of Baker Hughes Holdings LLC and Baker Hughes Co-Obligor, Inc. BKR40 The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ 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