By Andrea Heisinger
New York, May 20 - Praxair, Inc. priced $500 million one-year floating-rate notes Wednesday at par to yield three-month Libor plus 9 basis points, according to a press release.
The notes (A2/A/) have interest paid quarterly and are non-callable.
Bookrunners were Citigroup Global Markets Inc. and RBS Securities Inc.
Proceeds will be used to repay short-term debt and for general corporate purposes.
The industrial gases company is based in Danbury, Conn.
| Issuer: | Praxair, Inc.
|
| Issue: | Floating-rate notes
|
| Amount: | $500 million
|
| Maturity: | May 26, 2010
|
| Bookrunners: | Citigroup Global Markets Inc., RBS Securities Inc.
|
| Coupon: | Three-month Libor plus 9 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 9 bps
|
| Call: | Non-callable
|
| Trade date: | May 20
|
| Settlement date: | May 26
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
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