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BAKER HUGHES PRICES NOTE OFFERING

 HOUSTON, April 29 /PRNewswire/ -- Baker Hughes Incorporated (NYSE: BHI) today announced its agreement to sell $335 million principal amount at maturity of Liquid Yield Option Notes (LYONs) due 2008 (zero coupon - senior).
 The LYONs have been priced to provide approximately $199 million in proceeds to the company before underwriting discounts (before any exercise of the over allotment option). The yield to maturity on the LYONs is 3.5 percent per annum. The LYONs are initially convertible into BHI common stock at a conversion price of $31.95 per share, a 20 percent premium to the Baker Hughes closing price on the date of the agreement. The offering has been underwritten by Merrill Lynch & Co.
 Baker Hughes is a leading provider of products and services for the oil, gas and process industries.
 -0- 4/29/93
 /CONTACT: Ronald G. Turner of Baker Hughes Incorporation, 713-439-8666/
 (BHI)


CO: Baker Hughes Incorporated ST: Texas IN: OIL SU: OFR

CK -- NY055 -- 2603 04/29/93 11:18 EDT
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Publication:PR Newswire
Date:Apr 29, 1993
Words:164
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