logo
  Join        Login             Stock Quote

Baker Hughes Extends Exchange Offer for Senior Notes Due 2021

Thursday, May 3, 2012 8:34 PM


HOUSTON, May 10, 2012 /PRNewswire/ -- Baker Hughes Incorporated (NYSE: BHI) announced today that it has further extended the expiration date of its offer to exchange up to $750 million aggregate principal amount of its 3.20% Senior Notes due 2021 (the "New Notes") that have been registered under the Securities Act of 1933, as amended, for an equal amount of its outstanding 3.20% Senior Notes due 2021 that have not been registered under the Act (the "Old Notes").

As a result of the extension, the exchange offer is now scheduled to expire at 5 p.m., Eastern time, on May 24, 2012, unless further extended. The exchange offer was previously set to expire at 5 p.m., Eastern time, on May 10, 2012. As of this date, tenders of approximately $747,190,000 aggregate principal amount, or 99.63%, of the Old Notes have been received pursuant to the exchange offer. Except for the extension of the expiration date, all of the other terms of the exchange offer remain as set forth in the exchange offer prospectus, dated April 5, 2012.

This news release is not an offer to exchange the New Notes for the Old Notes or the solicitation of an offer to exchange, which we are making only through the exchange offer prospectus.

Copies of the prospectus and letter of transmittal may be obtained from the following:

By Registered or Certified Mail
The Bank of New York Mellon Trust Company, N.A.
c/o The Bank of New York Mellon Trust Corporation
Corporate Trust Options — Reorganization Unit
101 Barclay Street, Floor 7 East
New York, NY 10286
Attention: Diane Amoroso

By Overnight Delivery
The Bank of New York Mellon Trust Company, N.A.
c/o The Bank of New York Mellon Trust Corporation
Corporate Trust Options — Reorganization Unit
101 Barclay Street, Floor 7 East
New York, NY 10286
Attention: Diane Amoroso

By Hand Delivery
The Bank of New York Mellon Trust Company, N.A.
c/o The Bank of New York Mellon Trust Corporation
Corporate Trust Options — Reorganization Unit
101 Barclay Street, Floor 7 East
New York, NY 10286
Attention: Diane Amoroso

Eligible institutions may make requests by facsimile at (212) 298-1915 and may confirm facsimile delivery by calling (212) 815-2742.

Baker Hughes is a leading supplier of oilfield services, products, technology and systems to the worldwide oil and natural gas industry. The company's 58,000-plus employees today work in more than 80 countries helping customers find, evaluate, drill, produce, transport and process hydrocarbon resources. For more information on Baker Hughes' century-long history, visit www.bakerhughes.com.

This news release contains forward-looking statements as defined under federal securities laws. These forward-looking statements involve certain risks and uncertainties and actual results could differ materially. Baker Hughes undertakes no obligation to publicly update or revise any forward-looking statement.

CONTACTS:

Media Relations:       Teresa Wong, +1.713.439.8110, teresa.wong@bakerhughes.com

                                Pam Easton, +1.713.439.8391, pamela.easton@bakerhughes.com

Investor Relations:     Adam Anderson, +1.713.439.8039, adam.anderson@bakerhughes.com

                               Eric Holcomb, +1.713.439.8822, eric.s.holcomb@bakerhughes.com

SOURCE Baker Hughes Incorporated

(Source: PR Newswire )
(Source: Quotemedia)

Advertisement
Advertisement



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.