Company: BKR
Filing Date: 2025-08-18
Form Type: 8-K
Source: 0001193125-25-182691
Chunk: 0

Company: Baker Hughes Co
Filing Date: 2025-08-18
Form: 8-K
Item: Item 1.01
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Item 1.01      Entry Into a Material Definitive Agreement.  

On August 15, 2025, Baker Hughes Holdings LLC (“ BHH”), as borrower, and Baker Hughes Company (“ BHC”), as parent guarantor, entered into a term loan credit agreement (the “ Term Loan Credit Agreement”) with the lender parties thereto (the “ Lenders”) and Goldman Sachs Bank USA (the “ Administrative Agent”), as administrative agent, with aggregate lending commitments of $2.6 billion for a senior, unsecured delayed draw term loan facility in connection with BHC’s previously announced agreement to acquire Chart Industries, Inc. (“ Chart”) pursuant to that certain Agreement and Plan of Merger, dated as of July 28, 2025, among BHC, Tango Merger Sub, Inc. and Chart (the “ Merger Agreement” and the acquisition of Chart, the “ Chart Acquisition”). BHC fully guaranteed the obligations under the Term Loan Credit Agreement.

The availability of the term loan under the Term Loan Credit Agreement is subject to the satisfaction (or waiver) of certain conditions set forth therein, including the substantially concurrent consummation of the Chart Acquisition. The proceeds of the term loan shall be used by BHC to finance, together with other sources of funds, the Chart Acquisition and to pay related fees and expenses in the event that BHC has not obtained other permanent financing prior to the closing of the Chart Acquisition.

Under the Term Loan Credit Agreement, the term loan commitments will be reduced by the full amount of any net cash proceeds that BHC or its subsidiaries receive from certain asset sales between the effective date of the Term Loan Credit Agreement and the term loan closing date, after giving effect to any applicable reinvestment period.

Loans under the Term Loan Credit Agreement will bear interest at a rate per annum equal to (i) Adjusted Term SOFR (being Term SOFR plus a credit spread adjustment of 10 bps), plus an applicable margin ranging from 62.5 bps to 112.5 bps based on the ratings of BHH’s senior unsecured non-creditenhanced long-term debt, as determined by Standard & Poor’s or Moody’s (the “ Ratings”), or (ii) the Alternate Base Rate (as defined in the Term Loan Credit Agreement), plus an applicable margin of 0 bps or 12.5 bps based on BHH’s Ratings.

Unless previously terminated, commitments under the Term Loan Credit Agreement will terminate upon the earliest of (i) the closing of