By Lisa Kerner
Charlotte, N.C., June 29 - L'Air Liquide SA subsidiary Air Liquide Finance said it issued a total of $700 million of new senior notes in a U.S. private placement with more than 20 investors on Friday.
The notes were issued as follows:
• $400 million of 3.11% notes due 2022;
• $200 million of 3.26% notes due 2024; and
• $100 million of 3.46% notes due 2027.
Proceeds from the notes, which are equivalent to about €560 million, will be used to refinance the last series of a private placement previously issued by American Air Liquide, Inc. in 2004 and maturing in August 2012.
The notes are fully guaranteed by L'Air Liquide and will settle between July and September, according to a company news release.
L'Air Liquide is a Paris-based company that supplies oxygen, nitrogen, hydrogen and other gases.
| Issuer: | Air Liquide Finance
|
| Guarantor: | L'Air Liquide SA
|
| Issue: | Senior notes
|
| Amount: | $700 million
|
| Pricing date: | June 29
|
| Settlement: | Between July and September
|
| Distribution: | Private placement
|
|
|
| 10-year notes
|
| Amount: | $400 million
|
| Maturity: | 2022
|
| Coupon: | 3.11%
|
|
|
| 12-year notes
|
| Amount: | $200 million
|
| Maturity: | 2024
|
| Coupon: | 3.26%
|
|
|
| 15-year notes
|
| Amount: | $100 million
|
| Maturity: | 2027
|
| Coupon: | 3.46%
|
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