Baker Hughes’ $1.25 Billion Notes Offering

Davis Polk advised Baker Hughes Holdings LLC and Baker Hughes Co-Obligor, Inc. on the deal, while Cravath represented the underwriters.

Baker Hughes Holdings LLC and Baker Hughes Co-Obligor, Inc executed their $1.25 billion SEC-registered debt offering of 1.231% senior notes due 2023 and 2.061% senior notes due 2026.

Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, Barclays Capital Inc., BofA Securities, Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., UniCredit Capital Markets LLC, ANZ Securities, Inc., BNP Paribas Securities Corp., Intesa Sanpaolo S.p.A., Loop Capital Markets LLC, MUFG Securities Americas Inc., RBC Capital Markets, LLC, SG Americas Securities, LLC, SMBC Nikko Securities America, Inc., and Standard Chartered Bank acted as underwriters for the offering.

Baker Hughes is an energy technology company with a diversified portfolio of technologies and services that span the entire energy value chain. Baker Hughes conducts business in more than 120 countries.

The Davis Polk corporate team included partner Shane Tintle (Picture) and associate Ernesto Talamás Velázquez. The tax team included partner William A. Curran and associates Joshua J. Micelotta and Justin Corvino. The investment management team included counsel Sarah E. Kim and associate Alisan Oliver-Li.

The Cravath team included partners William V. Fogg and Matthew G. Jones and associates Andrew D. Norwich and Ahra Cho on capital markets matters, partner Christopher K. Fargo on tax matters, and partner Matthew Morreale on environmental matters. Samantha Greenky also worked on capital markets matters.

Involved fees earner: Ahra Cho – Cravath Swaine & Moore; Christopher K. Fargo – Cravath Swaine & Moore; William Fogg – Cravath Swaine & Moore; Matthew Jones – Cravath Swaine & Moore; Matthew Morreale – Cravath Swaine & Moore; Andrew Norwich – Cravath Swaine & Moore; Justin Corvino – Davis Polk & Wardwell; William Curran – Davis Polk & Wardwell; Sarah Kim – Davis Polk & Wardwell; Joshua Micelotta – Davis Polk & Wardwell; Alisan Oliver-Li – Davis Polk & Wardwell; Shane Tintle – Davis Polk & Wardwell; Ernesto Talamás Velázquez – Davis Polk & Wardwell;

Law Firms: Cravath Swaine & Moore; Davis Polk & Wardwell;

Clients: ANZ Securities Limited; Baker Hughes; Bank of America Securities; Barclays Capital ; BNP Paribas Securities; Citigroup Global Markets Ltd; Deutsche Bank Securities; HSBC Securities (USA) Inc.; Intesa Sanpaolo S.p.A.; J.P. Morgan Securities LLC; Loop Capital Markets; Morgan Stanley; MUFG Securities Americas Inc. ; SG Americas Securities LLC; SMBC Nikko Securities America; Standard Chartered Bank; UniCredit Capital Markets;

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Author: Alejandro Girola