New Issue: Praxair prices €550 million 1.2% eight-year notes to yield mid-swaps plus 78 bps

By Cristal Cody

Tupelo, Miss., Feb. 4 – Praxair, Inc. sold €550 million of 1.2% eight-year notes at 99.962 to yield 1.205% on Thursday, according to an FWP filing with the Securities and Exchange Commission.

The bonds priced at mid-swaps plus 78 basis points.

Credit Suisse Securities (Europe) Ltd., Deutsche Bank AG, London Branch and BofA Merrill Lynch were the lead managers.

Proceeds will be used for general corporate purposes.

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

Issuer:	Praxair, Inc.
Amount:	€550 million
Maturity:	Feb. 12, 2024
Securities:	Notes
Bookrunners:	Credit Suisse Securities (Europe) Ltd., Deutsche Bank AG, London Branch and BofA Merrill Lynch
Co-managers:	ANZ Securities, Inc.; Banco Bilbao Vizcaya Argentaria, SA; Banco Bradesco BBI SA; BNY Mellon Capital Markets, LLC; Goldman Sachs & Co.; Itau BBA USA Securities, Inc.; PNC Capital Markets LLC; Societe Generale; Toronto-Dominion Bank; Williams Capital Group, LP
Coupon:	1.2%
Price:	99.962
Yield:	1.205%
Spread:	Mid-swaps plus 78 bps
Make-whole call:	Bund plus 20 bps
Trade date:	Feb. 4
Settlement date:	Feb. 12
Ratings:	Moody’s: A2
	Standard & Poor’s: A
Distribution:	SEC registered

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