By Andrea Heisinger
Omaha, Nov. 7 - Praxair, Inc. priced $400 million of 5.25% seven-year bonds Wednesday to yield Treasuries plus 116 basis points, an informed source said.
The bonds (A2/A) priced at 99.768 to yield 5.29%.
Bookrunners were Banc of America Securities LLC, Citigroup and JPMorgan.
Proceeds will be used to refinance short-term debt taken on to repay the company's 4.75% and 6.625% notes due earlier this year, to fund share repurchases and for general corporate purposes.
The industrial gases company is based in Danbury, Conn.
| Issuer: | Praxair, Inc.
|
| Issue: | Bonds
|
| Amount: | $400 million
|
| Maturity: | Nov. 15, 2014
|
| Bookrunners: | Banc of America Securities LLC, Citigroup, JPMorgan
|
| Coupon: | 5.25%
|
| Price: | 99.768
|
| Yield: | 5.29%
|
| Spread: | Treasuries plus 116 bps
|
| Call: | Make-whole at Treasuries plus 15 bps
|
| Trade date: | Nov. 7
|
| Settlement date: | Nov. 13
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
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