In a move to improve its financial standings, Houston-based Baker Hughes Incorporated has started a tender offer to purchase for cash up to $1 billion in senior notes that are due in 2018, 2021, 2024, 2029 and 2040.
The offer will continue until midnight, New York City time at the end of June 22, 2016.
The $1 billion offer includes 6.000% Senior votes due 2018, 7.500% Senior Notes due 2018, 3.2% Senior Notes due 2021, 8.550% Debentures due 2024, 6.875% Notes due 2020 and 5.125% Senior Notes due 2040.
The 2018 6.000% notes were issued by Western Atlas Inc. which is a subsidiary of the Company and are fully and unconditionally guaranteed by Baker Hughes. The 2024 Notes were issued by Western Atlas Inc.
