Baker Hughes Company successfully priced a $6.5 billion debt offering consisting of five tranches of senior unsecured notes and a ?3 billion debt offering consisting of four tranches of senior unsecured notes (collectively, the ?notes?): $500 million 4.050% Senior Notes due 2029, $1.25 billion 4.350% Senior Notes due 2031, $750 million 4.650% Senior Notes due 2033, $2 billion 5.000% Senior Notes due 2036, $2 billion 5.850% Senior Notes due 2056, ?600 million 3.226% Senior Notes due 2030, ?900 million 3.812% Senior Notes due 2034,?750 million 4.193% Senior Notes due 2038, ?750 million 4.737% Senior Notes due 2046. The notes will be issued by Baker Hughes? wholly owned subsidiary, Baker Hughes Holdings LLC (?BHH LLC?) and by BHH LLC?s wholly owned subsidiary Baker Hughes Holdings Co-Obligor Inc. (?Co-Obligor?
and, together with BHH LLC, the ?Issuers?), and will be fully and unconditionally guaranteed on a senior unsecured basis by Baker Hughes. Baker Hughes intends to use the net proceeds of the offerings to fund a portion of the cash consideration for Baker Hughes? proposed acquisition of all outstanding shares of common stock of Chart Industries Inc. (the ?Chart acquisition?).
The notes will be subject to a special mandatory redemption (at a price equal to 101% of the aggregate principal amount of such series of notes) under certain circumstances if the Chart acquisition is not consummated. The notes offerings are expected to close on March 11, 2026, subject to satisfaction of customary closing conditions. Goldman Sachs & Co.
LLC and Morgan Stanley & Co. LLC are acting as joint global coordinators and joint book-running managers for the U.S. dollar offering, and Goldman Sachs & Co. LLC and Morgan Stanley & Co.
International plc are acting as joint global coordinators and joint book-running managers for the euro offering. Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC are acting as joint book-running managers for the U.S. dollar offering, and Citigroup Global Markets Limited, Deutsche Bank AG, London Branch and J.P. Morgan Securities plc are acting as joint book-running managers for the euro offering.
