By Andrea Heisinger
New York, Nov. 2 - Praxair, Inc. sold $700 million of notes (A2/A/) in two maturities on Friday, according to a filing with the Securities and Exchange Commission.
The $400 million of 1.05% five-year notes sold at 99.961 to yield 1.058% with a spread of Treasuries plus 33 basis points.
The tranche has a make-whole call at Treasuries plus 5 bps.
There was also $300 million of 3.55% 30-year bonds priced at 99.378 to yield 3.584% with a spread of 68 bps over Treasuries.
The notes have a make-whole call at Treasuries plus 10 bps until May 7, 2042 with a par call after.
Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and RBS Securities Inc. were the bookrunners.
Proceeds will be used to repay short-term debt, to fund share repurchases and for general corporate purposes.
Praxair, an industrial gas producer based in Danbury, Conn., last priced notes in a $500 million sale of 2.2% 10-year notes at 72 bps over Treasuries on July 30.
| Issuer: | Praxair Inc.
|
| Issue: | Notes
|
| Amount: | $700 million
|
| Bookrunners: | Citigroup Global Markets Inc., Deutsche Bank Securities Inc., RBS Securities Inc.
|
| Trade date: | Nov. 2
|
| Settlement date: | Nov. 7
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
|
|
| Five-year notes
|
| Amount: | $400 million
|
| Maturity: | Nov. 7, 2017
|
| Coupon: | 1.05%
|
| Price: | 99.961
|
| Yield: | 1.058%
|
| Spread: | Treasuries plus 33 bps
|
| Call: | Make-whole at Treasuries plus 5 bps
|
|
|
| 30-year notes
|
| Amount: | $300 million
|
| Maturity: | Nov. 7, 2042
|
| Coupon: | 3.55%
|
| Price: | 99.378
|
| Yield: | 3.584%
|
| Spread: | Treasuries plus 68 bps
|
| Call: | Make-whole at Treasuries plus 10 bps until May 7, 2042, par call after
|
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