Monitor for completion of the Chart Industries acquisition and subsequent integration updates. The $2 billion debt raise increases leverage, but the solvency representation suggests manageable credit risk. Watch for any credit rating actions and the next quarterly earnings for revenue/earnings impact from the acquisition.
Price Chart
Executive Summary
Baker Hughes Co, through its subsidiary Baker Hughes Holdings LLC, entered into two separate $1 billion term loan credit agreements on July 15, 2026, for a total of $2 billion in new debt financing. The proceeds are explicitly designated to fund the acquisition of Chart Industries, Inc. (target in the July 28, 2025 merger agreement) and pay related transaction fees. The company also terminated its prior $1 billion term loan credit agreement with Goldman Sachs Bank USA from August 15, 2025. This is a significant debt-financed acquisition that increases leverage, but the financing is secured and the company remains solvent per the filing's solvency certificate.
Key Financial Metrics
Key Facts
- Baker Hughes Holdings LLC entered into two $1 billion term loan credit agreements on July 15, 2026, totaling $2 billion.
- The first facility is with Bank of America, N.A. as administrative agent; the second is with UniCredit Bank GmbH, New York Branch as administrative agent.
- Proceeds will be used to fund the acquisition of Chart Industries, Inc. (target in the July 28, 2025 merger agreement) and pay related transaction fees.
- The prior $1 billion term loan credit agreement with Goldman Sachs Bank USA (dated August 15, 2025) is referenced as the 'Existing Credit Agreement' and is being replaced.
- Each facility matures two years after the closing date (July 15, 2028).
- Interest rates are based on Term SOFR plus an applicable margin ranging from 0.625% to 1.125% depending on credit ratings.
- Baker Hughes Company guarantees both facilities as the parent guarantor.
- The company represented it is solvent on a consolidated basis as of the closing date.
Financial Impact
Total new debt of $2 billion to finance the Chart Industries acquisition, replacing a prior $1 billion facility. Net new debt of approximately $1 billion.
Risk Factors
- Integration risk from the Chart Industries acquisition
- Increased leverage from $2 billion in new term loans
- Execution risk if the acquisition does not close or synergies fall short
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (BKR) — Batch item 1 | 0001193125-26-305477 |
| Document: d105425dex101.htm | 0001193125-26-305477 |
| 8-K Filing (BKR) — Batch item 3 | 0001193125-26-305477 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 13, 2026 18d ago | Press Release | $56.78 $57.83 | ▲ +1.85% | ▲ +1.74% | $56.00 (−1.37%) |
Sep 9, 2026 23d ago | 8-K | $63.64 $56.32 | ▼ −11.50% | ▼ −10.41% | $56.00 (−12.01%) |
Sep 4, 2026 28d ago | Press Release | $63.50 $56.78 | ▼ −10.58% | ▼ −9.37% | $56.00 (−11.81%) |
Jul 27, 2026 9w ago | 8-K | $60.59 $60.49 | ▼ −0.17% | ▼ −1.24% | $56.00 (−7.58%) |
Jul 26, 2026 9w ago | Press Release | $60.59 $60.49 | ▼ −0.17% | ▼ −1.24% | $56.00 (−7.58%) |
Jul 26, 2026 9w ago | Press Release | $60.59 $60.49 | ▼ −0.17% | ▼ −1.24% | $56.00 (−7.58%) |
Jul 16, 2026 11w ago | 8-K | $56.54 $56.09 | ▼ −0.80% | ▲ +0.87% | $56.00 (−0.96%) |
Jul 1, 2026 13w ago | 144 | $53.82 $54.47 | ▼ −1.21% | ▼ −0.95% | $56.00 (−4.05%) |
Jun 22, 2026 14w ago | 8-K | $59.15 $56.56 | ▼ −4.38% | ▼ −2.31% | $56.00 (−5.33%) |
Jun 16, 2026 15w ago | Insider Cluster | $60.07 $56.38 | ▼ −6.14% | ▼ −5.10% | $56.00 (−6.78%) |
US Market Status
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