By Cristal Cody
Tupelo, Miss., Feb. 27 - Praxair, Inc. sold $500 million of 1.2% five-year notes (/A/) on Wednesday at 99.874 to yield 1.226%, or 45 basis points over Treasuries, according to FWP filing with the Securities and Exchange Commission.
Citigroup Global Markets Inc. was the bookrunner.
Praxair may redeem the notes at its option at any time in whole or in part.
The Danbury, Conn.-based industrial gas producer plans to use the proceeds for general corporate purposes, including repaying debt.
Praxair last tapped the investment-grade market on Nov. 2 with a $700 million offering of five-year notes and 30-year bonds.
| Issuer: | Praxair, Inc.
|
| Amount: | $500 million
|
| Maturity: | March 4, 2018
|
| Securities: | Notes
|
| Bookrunner: | Citigroup Global Markets Inc.
|
| Coupon: | 1.2%
|
| Price: | 99.874
|
| Yield: | 1.226%
|
| Spread: | 45 bps over Treasuries
|
| Call feature: | Any time in whole or in part
|
| Pricing date: | Feb. 27
|
| Settlement date: | March 4
|
| Ratings: | Standard & Poor's: A
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
