Halliburton (NYSE: HAL) said Nov. 5 it has launched a $7.5 billion debt offering, with hopes to partially fund its pending acquisition of Baker Hughes Inc. (NYSE: BHI).

The Houston company has priced the offering of senior notes, which will be issued in five tranches: the 2020 notes, 2022 notes, 2025 notes, 2035 notes and 2045 notes. The offering is expected to close on Nov. 13, the release said.

Halliburton said it intends to use the net proceeds for general corporate purposes, including financing a portion of the cash consideration component of the Baker Hughes acquisition.

In the event that the acquisition is not consummated, Halliburton intends to use the proceeds from the sale of the 2025 notes, the 2035 notes and the 2045 notes for general corporate purposes. The 2020 notes and the 2022 notes will be subject to a special mandatory redemption if the Baker Hughes acquisition is not completed.

Pending the application of the net proceeds to finance the Baker Hughes acquisition, Halliburton may temporarily invest the net proceeds in cash equivalents or short-term investments, the release said.