Baker Hughes never drew its $14.9bn bridge for Chart
Baker Hughes committed to a $14.9 billion bridge loan for Chart Industries in July 2025 and terminated it unused in March 2026. What actually paid for the deal.
8 primary sourcesTicker · 1 article
BKR
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Last checked Aug 28, 2026All companies
Figures we worked out for BKR
Not a data feed. Each of these was calculated inside one of the articles above, from the filings listed at the bottom of this page. The arithmetic is shown so you can redo it — and it is re-run every time this site is built.
| Figure | Value | Arithmetic |
|---|---|---|
| Baker Hughes never drew its $14.9bn bridge for Chart | ||
| Bridge commitments terminated as a share of the original | +73.8% | 11.0 / 14.9 |
| Bridge commitments retired before March 2026, $bn | $3.90bn | 14.9 - 11.0 |
| Term loans drawn at closing against the bridge committed, share | +13.4% | 2.0 / 14.9 |
| Baker Hughes cash, 31 Dec 2025 to 31 Mar 2026, $bn | $11.05bn | (14764 - 3715) / 1000 |
| Baker Hughes total debt, 31 Dec 2025 to 31 Mar 2026, $bn | $10.08bn | (16164 - 6087) / 1000 |
| Debt added in that quarter beyond the dollar notes tranche, $bn | $3.58bn | (16164 - 6087) / 1000 - 6.5 |
| Total debt change, 31 Mar to 30 Jun 2026, $m | $89m | 16253 - 16164 |
| Cash at 30 June 2026 against the equity consideration | 1.56× | 15727e6 / (47869076 * 210) |
| Days the notes proceeds sat before closing, 11 Mar to 16 Jul 2026 | 127 days | 127 |
| Days from merger agreement to closing | 353 days | 353 |
| Bank of America margin over Term SOFR, bottom of the grid, bp | 27.5 bp | 100 - (62.5 + 10) |
| Bank of America margin over Term SOFR, top of the grid, bp | 2.5 bp | 125 - (112.5 + 10) |
| UniCredit margin against the terminated facility, bp | −10 bp | 62.5 - (62.5 + 10) |
| Annual cost of the wider margin on $1.0bn, bottom of the grid, $m | $3m | 1000 * 27.5 / 10000 |
| Annual cost of the wider margin on $1.0bn, top of the grid, $m | $0m | 1000 * 2.5 / 10000 |
| Baker Hughes shares outstanding at 23 July 2026, millions | 992.67 m shares | 992674071 / 1e6 |
16 figures from 1 article. Totals and industry averages that belong to no single company are not listed here.
Primary sources used
- Baker Hughes Company — Form 8-K filed 29 July 2025Item 1.01 — merger agreement dated 28 July 2025 and the Bridge Commitment Letter with Goldman Sachs Bank USA, Goldman Sachs Lending Partners and Morgan Stanley Senior Funding for a senior unsecured 364-day bridge facility of up to $14.9 billion, reducible by permanent financing and asset sale proceeds
- Baker Hughes Company — Form 8-K filed 18 August 2025Items 1.01 and 2.03 — the delayed draw term loan credit agreement dated 15 August 2025 with Goldman Sachs Bank USA as administrative agent, filed as Exhibit 10.1 and identified as such in the 16 July 2026 8-K
- Baker Hughes Company — Form 8-K filed 11 March 2026Items 1.01, 2.03 and 8.01 — the senior notes issued 11 March 2026 and the termination of approximately $11.0 billion of bridge facility commitments
- Baker Hughes Company — Form 8-K filed 16 July 2026Items 1.01, 1.02, 2.01 and 2.03 — the two term loan credit agreements and their pricing grids, the automatic termination of the $2.6 billion prior facility, the $210.00 merger consideration, and the sources of funds
- Baker Hughes Company — Form 10-Q for the quarter ended 30 June 2026Cash and equivalents of $15,727m and combined short- and long-term debt of $16,253m at 30 June 2026; 992,674,071 shares outstanding at 23 July 2026
- Chart Industries, Inc. — Form 10-Q for the quarter ended 31 March 2026Chart's last quarterly balance sheet — cash and equivalents $267.9m, combined debt $3,786.8m, 47,869,076 shares outstanding at 7 May 2026
- Chart Industries, Inc. — Form 8-K filed 16 July 2026Items 2.01, 3.01, 5.01 and 5.03 — completion of the merger, NYSE delisting notice and change in control, filed from Chart's side
- Chart Industries, Inc. — Form 15-12G filed 29 July 2026Deregistration — why no second-quarter 10-Q exists for Chart and why 31 March 2026 is the last balance sheet available
8documents, deduplicated. Links go to the original filing, not to a summary.