By Andrea Heisinger
New York, March 23 - Praxair Inc. sold a downsized $300 million of 4.375% five-year notes Monday to yield Treasuries plus 275 basis points, an informed source said.
The notes (A2/A/) priced at 99.684.
Bookrunners were Banc of America Securities LLC and Citigroup Global Markets Inc.
Proceeds will be used to repay debt incurred to repay 2.75% notes due 2008, and for general corporate purposes.
The industrial gas supplier is based in Danbury, Conn.
| Issuer: | Praxair Inc.
|
| Issue: | Notes
|
| Amount: | $300 million, decreased from $400 million
|
| Maturity: | 2014
|
| Bookrunners: | Banc of America Securities LLC, Citigroup Global Markets Inc.
|
| Coupon: | 4.375%
|
| Price: | 99.684
|
| Spread: | Treasuries plus 275 bps
|
| Trade date: | March 23
|
| Settlement date: | March 26
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
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