Baker Hughes Incorporated, which provides solutions to lower costs, reduce risk and improve productivity, is raising $750 million through a sale of senior notes. The notes, which carry a coupon rate of 3.20%, will mature on Aug. 15, 2021.
The company is planning to utilize the net proceeds to buy back all of its outstanding 6.50% senior notes due 2013. The rest of the net proceeds will be used for general corporate purposes, which could include funding ongoing operations, business acquisitions and repurchase of the company’s common stock.
Click here for the release from PR Newswire.