Air Products commercial paper holders offered par by Citi, Deutsche

By Angela McDaniels

Tacoma, Wash., Sept. 6 – Citigroup Global Markets Inc. and Deutsche Bank Securities Inc. are offering to purchase up to $425 million of outstanding commercial paper issued by Air Products & Chemicals, Inc., according to a joint news release from the offerors.

The following commercial paper is eligible for the offer:

• $400 million of commercial paper due Nov. 1, 2016;

• $180 million of commercial paper due Nov. 2, 2016;

• $285 million of commercial paper due Nov. 3, 2016;

• $111 million of commercial paper due Nov. 4, 2016;

• $160 million of commercial paper due Nov. 7, 2016;

• $60 million of commercial paper due Nov. 8, 2016; and

• $25 million of commercial paper due Nov. 14, 2016.

The purchasers are offering an amount in cash equal to the par amount of the commercial paper purchased.

Sales of commercial paper will be on a first-come, first-served basis with transactions settling directly with one of the purchasers.

The offer will end at 5 p.m. ET on Sept. 13. Settlement is expected to occur two business days following the acceptance of a holder’s offer.

Interested holders should call one of the purchasers to offer their commercial paper. For commercial paper due Nov. 1, 2016 or Nov. 2, 2016, call Deutsche Bank at 866 627-0391 or 212 250-2955. For the remaining commercial paper, call Citigroup at 800 558-3745 or 212 723-6106.

Air Products is maker of industrial gases and chemicals based in Allentown, Pa.

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