Praxair Issues $400 Million of Seven-Year Bonds
November 07, 2007
DANBURY, CT, November 7, 2007 — Praxair, Inc. (NYSE: PX) has priced $400 million of seven-year bonds maturing November 15, 2014 at a coupon interest rate of 5.25% and a price of 99.768%. The notes are being offered under its universal shelf self registration statement filed with the U.S. Securities and Exchange Commission. The offering is led by Banc of America Securities LLC, Citigroup Global Markets Inc. and J.P. Morgan Securities Inc. Co-managers are Credit Suisse Securities (USA) LLC, Deutsche Bank Securities, Inc., HSBC Securities, Merrill, Lynch, Pierce, Fenner & Smith Incorporated and Santander Investment Securities, Inc.
"Treasuries continue to rally near two-year lows. This attractive funding will support our long-term growth," said Michael J. Allan, Praxair's vice president and treasurer.
The offering is expected to close on November 13, 2007. The company anticipates using the proceeds of the offering to repay short-term debt and for general corporate purposes. The company's long-term debt is rated A2 by Moody's Investors Service and A by Standard and Poor's Corporation.
Nothing herein shall constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. The offering is being made by means of a prospectus and related prospectus supplement only, copies of which or information concerning this offering may be obtained by contacting Banc of America Securities LLC at 9 West 57th Street, New York, NY 10019.
Praxair is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2006 sales of $8.3 billion. The company produces, sells and distributes atmospheric and process gases, and high-performance surface coatings. Praxair's products, services and technology bring productivity and environmental benefits to a wide variety of industries, including aerospace, chemicals, electronics, energy, food and beverage, healthcare, manufacturing, metals and others. More information on Praxair is available at www.praxair.com.