Praxair offers dual currency notes in tranches due 2024, 2026

By Cristal Cody

Tupelo, Miss., Feb. 4 – Praxair, Inc. plans to price dual currency tranches in an offering of notes due 2024 and 2026, according to 424B2 filings with the Securities and Exchange Commission on Thursday.

The company intends to reopen its 3.2% notes due 2026. The notes (A2/A) originally priced on Sept. 22 in a $450 million tranche at 99.584 to yield 3.248% and a spread of 105 basis points over Treasuries.

J.P. Morgan Securities LLC, Mizuho Securities USA Inc. and Wells Fargo Securities LLC are the bookrunners for the U.S. bond sale.

Praxair also plans to price a euro-denominated tranche of notes due 2024.

BofA Merrill Lynch, Credit Suisse Securities (Europe) Ltd. and Deutsche Bank AG, London Branch are the lead managers for the euro-denominated bond offering.

Proceeds will be used for general corporate purposes.

Praxair is a Danbury, Conn.-based industrial gas supplier.

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