Baker Hughes Announces Pricing Terms of Tender Offer for Certain Outstanding Debt Securities
In accordance with the terms of the Tender Offer, the withdrawal
deadline was
The Total Consideration (as defined in the Tender Offer Documents) for
each series of Notes is based on the applicable reference yield plus a
fixed spread, in each case as set forth in the table below, and is
payable to holders of the Notes who validly tendered and did not validly
withdraw their Notes on or before
Title of Security | CUSIP Number |
Acceptance |
Reference U.S. |
U.S. |
Fixed |
Total |
Principal Amount |
|||||||||||||||||||||
6.000% Senior Notes due 2018(2) | 055482 AJ2 | 1 | 0.875% U.S. Treasury due 5/31/2018 | 0.771% | +75 | \\$1,086.81 | \\$53,127,000 | |||||||||||||||||||||
7.500% Senior Notes due 2018 | 057224 AY3 | 1 | 0.875% U.S. Treasury due 5/31/2018 | 0.771% | +75 | \\$1,142.12 | \\$224,622,000 | |||||||||||||||||||||
8.550% Debentures due 2024(2) | 957674 AD6 | 2 | 1.625% U.S. Treasury due 5/15/2026 | 1.675% | +155 | \\$1,373.41 | \\$37,056,000 | |||||||||||||||||||||
6.875% Notes due 2029 | 057224 AK3 | 3 | 1.625% U.S. Treasury due 5/15/2026 | 1.675% | +200 | \\$1,320.32 | \\$94,212,000 | |||||||||||||||||||||
5.125% Senior Notes due 2040 | 057224 AZ0 | 4 | 2.500% U.S. Treasury due 2/15/2046 | 2.478% | +190 | \\$1,110.90 | \\$354,343,000 | |||||||||||||||||||||
3.200% Senior Notes due 2021 | 057224 BC0 | 5 | 1.375% U.S. Treasury due 4/30/2021 | 1.220% | +85 | \\$1,052.71 | \\$236,640,000 |
(1) | Per \\$1,000 principal amount of Notes accepted for purchase. The Total Consideration includes the Early Tender Premium of \\$30 per \\$1,000 principal amount of Notes. | |
(2) | The 2018 6.000% Notes were issued by Western Atlas Inc., a subsidiary of the Company, as ultimate successor to BJ Services Company, and are fully and unconditionally guaranteed by the Company. The 2024 Notes were issued by Western Atlas Inc. |
Upon the terms and subject to the conditions of the Tender Offer,
including the Acceptance Priority Levels and proration, the Company will
accept for purchase Notes validly tendered and not validly withdrawn at
or prior to the Early Tender Date such that the combined aggregate
principal amount of such Notes does not exceed the Maximum Tender
Amount. The settlement date for the Notes accepted for purchase by the
Company in connection with the Early Tender Date is currently expected
to be
Because the combined aggregate principal amount of validly tendered
Notes exceeded the Maximum Tender Amount, the 3.200% Senior Notes due
2021 will be purchased subject to proration as described in the Tender
Offer Documents. Notes not accepted for purchase will be promptly
credited to the account of the registered holder of such Notes with
In addition to the Total Consideration, all holders of Notes accepted for purchase will also receive accrued and unpaid interest, rounded to the nearest cent, on the principal amount of such Notes from the last applicable interest payment date up to, but not including, the settlement date.
Although the Tender Offer is scheduled to expire at midnight,
The Company has retained
This news release shall not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities. The Tender Offer is being made only pursuant to the Tender Offer Documents and only in such jurisdictions as is permitted under applicable law.
About the Company
Note on Forward-Looking Statements
Certain statements in this press release, including those describing the
completion of the Tender Offer, constitute forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, (each a “forward-looking statement”). The words “anticipate,”
“believe,” “ensure,” “expect,” “if,” “intend,” “estimate,” “project,”
“foresee,” “forecasts,” “predict,” “outlook,” “aim,” “will,” “could,”
“should,” “potential,” “would,” “may,” “probable,” “likely,” and similar
expressions, and the negative thereof, are intended to identify
forward-looking statements. There are many risks and uncertainties that
could cause actual results to differ materially from our forward-looking
statements. These forward-looking statements are also affected by the
risk factors described in the Company’s Annual Report on Form 10-K/A for
the year ended
Комментарии