Baker Hughes issued senior unsecured notes totaling USD 6.5 billion and EUR 3 billion, for a combined issuance value of USD 6.5 billion and EUR 3 billion. The USD offering includes five tranches ranging from USD 500 million due 2029 to USD 2 billion due 2056. The EUR offering includes four tranches ranging from EUR 600 million due 2030 to EUR 750 million due 2046. Baker Hughes said it intends to use the net proceeds to fund part of the cash consideration for its proposed acquisition of Chart. The notes are subject to a special mandatory redemption at 101% if the Chart acquisition is not completed under certain circumstances.

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