Summary
Baker Hughes Company (BKR) announced on December 6, 2017, through a news release, the pricing of a significant private placement of senior notes. This offering totals $3.95 billion in aggregate principal amount across three different maturity tranches: 2022, 2027, and 2047, with corresponding interest rates of 2.773%, 3.337%, and 4.080% respectively. This debt issuance represents a material financing event for the company. Investors should note that the closing of this sale is anticipated to occur on December 11, 2017, contingent upon standard closing conditions. The specific use of proceeds is not detailed in this particular filing, but such a large debt raise could be for general corporate purposes, refinancing existing debt, or funding strategic initiatives. The filing also clarifies that this announcement does not constitute an offer to sell or solicit an offer to buy securities.
Key Highlights
- 1Baker Hughes priced a private placement of $3.95 billion in senior notes.
- 2The notes are divided into three tranches with maturities in 2022, 2027, and 2047.
- 3Interest rates for the notes are 2.773% (2022), 3.337% (2027), and 4.080% (2047).
- 4The transaction is expected to close on December 11, 2017.
- 5The issuance is subject to customary closing conditions.
- 6A news release dated December 6, 2017, accompanied this filing.
- 7The filing clarifies it is not an offer to sell or solicit offers to buy securities.