Baker Hughes Finalizes €3 Billion Senior Notes Offering to Fund Chart Industries Acquisition

summarizeSummary

Baker Hughes priced its €3 billion senior notes offering, providing specific terms for the debt issuance intended to finance the acquisition of Chart Industries.

check_boxKey Events

• Pricing of €3 Billion Senior Notes

  Baker Hughes Holdings LLC and Baker Hughes Co-Obligor, Inc. priced €2,982,975,000 in senior notes across four tranches due 2030, 2034, 2038, and 2046, with coupon rates ranging from 3.226% to 4.737%.

• Acquisition Financing Confirmed

  The proceeds from this offering are intended to finance the acquisition of Chart Industries, Inc., as evidenced by a special mandatory redemption clause tied to the merger's consummation.

• Investment Grade Rating

  The notes are anticipated to receive investment-grade ratings of A3 from Moody's and A from S&P, reflecting the company's creditworthiness.

auto_awesomeAnalysis

Baker Hughes has officially priced its €3 billion senior notes offering, a critical step in financing the previously announced acquisition of Chart Industries. This FWP provides the detailed terms for four tranches of Euro-denominated notes, ranging in maturity from 2030 to 2046, with coupons from 3.226% to 4.737%. The offering includes a special mandatory redemption clause, requiring the notes to be redeemed at 101% of principal if the Chart Merger is not consummated by July 28, 2026, or is terminated. While the overall pricing of a larger debt offering was previously reported, this filing provides the specific, material terms for the Euro portion, solidifying the company's funding for its strategic acquisition.