By Cristal Cody
Tupelo, Miss., Feb. 4 – Praxair, Inc. priced a $275 million reopening of its 3.2% notes due Jan. 30, 2026 at 102.126 to yield 2.947% on Thursday, according to an FWP filing with the Securities and Exchange Commission.
The company sold the 10-year notes (A2/A) with a spread of 108 basis points over Treasuries.
Praxair originally sold the issue on Sept. 22 in a $450 million tranche at 99.584 to yield 3.248% and a spread of 105 bps over Treasuries. The total outstanding is $725 million.
J.P. Morgan Securities LLC, Mizuho Securities USA Inc. and Wells Fargo Securities LLC were the bookrunners.
Praxair also priced €550 million of 1.2% notes due Feb. 12, 2024 at 99.962 to yield 1.205%, or mid-swaps plus 78 bps, on Thursday.
Proceeds from the transaction will be used for general corporate purposes.
Praxair is a Danbury, Conn.-based industrial gas supplier.
| Issuer: | Praxair, Inc.
|
| Amount: | $275 million reopening
|
| Maturity: | Jan. 30, 2026
|
| Securities: | Notes
|
| Bookrunners: | J.P. Morgan Securities LLC, Mizuho Securities USA Inc., Wells Fargo Securities LLC
|
| Coupon: | 3.2%
|
| Price: | 102.126
|
| Yield: | 2.947%
|
| Spread: | 108 bps over Treasuries
|
| Call feature: | Make-whole call at Treasuries plus 20 bps before Oct. 30, 2025; par on or after Oct. 30, 2025
|
| Trade date: | Feb. 4
|
| Settlement date: | Feb. 11
|
| Ratings: | Moody’s: A2
|
| Standard & Poor’s: A
|
| Distribution: | SEC registered
|
| Total outstanding: | $725 million, including $450 million priced on Sept. 22, 2015 at 105 bps over Treasuries
|
© 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.
