What Is The Buzz Surrounding Baker Hughes A GE Co (NYSE:BHGE)?

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Baker Hughes A GE Co (NYSE:BHGE) reported the consideration to be paid in the earlier posted cash tender offers by its subsidiary unit to buy any and all of the mentioned outstanding debt securities, including the “6.000% 2018 Notes” and “7.500% 2018 Notes”, released by BHGE LLC or its subsidiary firms. This offer expired on December 8, 2017.

The details

Upon consummation of this offer, BHGE LLC will compensate the applicable aggregate consideration for each $1,000 principal sum of Securities of each series genuinely tendered and recognized for payment, plus unpaid and accrued interest from and counting the last interest compensation date applicable to the pertinent series of Securities up to, but not counting, the settlement date for accrued interest.

Baker Hughes reported that the settlement date is projected to be December 11, 2017, the preliminary business following the tender expiration date. The pertinent total consideration was computed in the manner stated in the Offer to Purchase, by reference to the pertinent fixed spread for such Security mentioned and the applicable yield to maturity depending on the bid-side price of the pertinent U.S. Treasury Security on December 8, 2017.

In unrelated news, Baker Hughes reported that Baker international rig count for last month was 942, as compared to 951 in October 2017, and 925 in November 2016. The global offshore rig count for last month stood at 183 as compared to 204 in October 2017, and 211 posted in November 2016.

The mean US rig count for the last month was 911, down 11 from the posted number of 922 in October 2017, and a jump of 331 from the count of 580 in November 2016. Baker Hughes reported that the average Canadian rig count for last month stood at 204, as compared to 173 in November 2016. It was unchanged from the count posted in October 2017.

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