Baker Hughes Prices $1.5B Senior Notes Due 2040

Ticker: BKR · Form: 8-K · Filed: 2025-01-30T00:00:00.000Z

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

Key Players & Entities

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.

From the Filing

0001701605-25-000014.txt : 20250130 0001701605-25-000014.hdr.sgml : 20250130 20250130171006 ACCESSION NUMBER: 0001701605-25-000014 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 20250130 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20250130 DATE AS OF CHANGE: 20250130 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Baker Hughes Co CENTRAL INDEX KEY: 0001701605 STANDARD INDUSTRIAL CLASSIFICATION: OIL & GAS FILED MACHINERY & EQUIPMENT [3533] ORGANIZATION NAME: 01 Energy & Transportation 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: 25574809 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-20250130.htm 8-K bkr-20250130 0001701605 false 0001701605 2025-01-30 2025-01-30 0001701605 bkr:A5.125SeniorNotesDue2040OfBakerHughesHoldingsLLCAndBakerHughesCoObligorInc.Domain 2025-01-30 2025-01-30 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): January 30, 2025 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 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 ac

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