0001193125-19-283473.txt : 20191104 0001193125-19-283473.hdr.sgml : 20191104 20191104165402 ACCESSION NUMBER: 0001193125-19-283473 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20191104 DATE AS OF CHANGE: 20191104 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BAKER HUGHES a GE Co LLC CENTRAL INDEX KEY: 0000808362 STANDARD INDUSTRIAL CLASSIFICATION: OIL & GAS FILED MACHINERY & EQUIPMENT [3533] IRS NUMBER: 760207995 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-222111 FILM NUMBER: 191190517 BUSINESS ADDRESS: STREET 1: 17021 ALDINE WESTFIELD ROAD CITY: HOUSTON STATE: TX ZIP: 77073-5051 BUSINESS PHONE: 7134398600 MAIL ADDRESS: STREET 1: PO BOX 4740 CITY: HOUSTON STATE: TX ZIP: 77210-4740 FORMER COMPANY: FORMER CONFORMED NAME: BAKER HUGHES INC DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BAKER HUGHES a GE Co LLC CENTRAL INDEX KEY: 0000808362 STANDARD INDUSTRIAL CLASSIFICATION: OIL & GAS FILED MACHINERY & EQUIPMENT [3533] IRS NUMBER: 760207995 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 17021 ALDINE WESTFIELD ROAD CITY: HOUSTON STATE: TX ZIP: 77073-5051 BUSINESS PHONE: 7134398600 MAIL ADDRESS: STREET 1: PO BOX 4740 CITY: HOUSTON STATE: TX ZIP: 77210-4740 FORMER COMPANY: FORMER CONFORMED NAME: BAKER HUGHES INC DATE OF NAME CHANGE: 19920703 FWP 1 d813564dfwp.htm FWP FWP

Filed Pursuant to Rule 433

Registration Nos. 333-222111,

333-222111-01

November 4, 2019

Baker Hughes, a GE company, LLC

Baker Hughes Co-Obligor, Inc.

Pricing Term Sheet

$525,000,000 3.138% Senior Notes due 2029

 

   

Issuers:

   

Baker Hughes, a GE company, LLC

Baker Hughes Co-Obligor, Inc.

   

Anticipated Ratings (Ratings Outlook): (S&P / Moody’s)*:

    A- (Stable) / A3 (Stable)
   

Trade Date:

    November 4, 2019
   

Settlement Date**:

    November 7, 2019 (T+3)
   

Security Type:

    SEC Registered
   

Title of Securities:

    3.138% Senior Notes due 2029
   

Maturity Date:

    November 7, 2029
   

Principal Amount:

    $525,000,000
   

Coupon:

    3.138%
   

Interest Payment Dates:

    Semi-annually on May 7 and November 7 of each year, beginning May 7, 2020
   

Benchmark Treasury:

    UST 1.625% due August 15, 2029
   

Benchmark Treasury Yield:

    1.788%
   

Spread to Benchmark Treasury:

    + 135 bps
   

Yield to Maturity:

    3.138%
   

Public Offering Price:

    100.000% of the principal amount
   

Net Proceeds before Expenses:

    $522,637,500
   

Optional Redemption:

   

Redeemable at any time before August 7, 2029 (the date three months prior to the stated maturity of the notes (the “Par Call Date”)) in an amount equal to the principal amount plus a make-whole premium, using a discount rate of T+25 bps, plus accrued and unpaid interest.

 

Redeemable at any time on or after the Par Call Date in an amount equal to the principal amount of the notes to be redeemed plus accrued and unpaid interest.

   

CUSIP / ISIN:

   

05723K AG5 / US05723KAG58

   

Joint Book-Running Managers:

   

BofA Securities, Inc.

Morgan Stanley & Co. LLC

Barclays Capital Inc.

Citigroup Global Markets Inc.

Deutsche Bank Securities Inc.

HSBC Securities (USA) Inc.

J.P. Morgan Securities LLC

   

Co-Managers:

   

UniCredit Capital Markets LLC

Standard Chartered Bank

*Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.

** The issuers expect that delivery of the notes will be made to investors on November 7, 2019, which will be the third business day following the date hereof (such settlement being referred to as “T+3”). Under Rule 15c6-1 under the Exchange Act, trades in the secondary market are required to settle in two business days, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the notes on the initial trade date of the notes will be required, by virtue of the fact that the notes initially will settle in T+3, to specify an alternate settlement arrangement at the time of any such trade to prevent a failed settlement and should consult their advisors.

The issuers have filed a registration statement (including a preliminary prospectus supplement and a prospectus) and a prospectus supplement with the U.S. Securities and Exchange Commission (SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus supplement for this offering, the issuers’ prospectus in that registration statement and any other documents the issuers have filed with the SEC for more complete information about the issuers and this offering. You may get these documents for free by searching the SEC online data base (EDGAR) on the SEC web site at http://www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus supplement and prospectus if you request it by calling (i) BofA Securities, Inc. toll-free at 1-800-294-1322 or (ii) Morgan Stanley & Co. LLC toll-free at 1-866-718-1649.