Praxair Issues $325 Million of Ten-Year Bonds
March 08, 2007
DANBURY, CT, March 8, 2007 — Praxair, Inc. (NYSE: PX) has priced $325 million of ten-year bonds maturing March 15, 2017 at a coupon interest rate of 5.20% and a price of 99.799%. The offering was led by Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated. Co-managers were Credit Suisse Securities (USA) LLC, HSBC Securities (USA) Inc., J.P. Morgan Securities Inc. and Santander Investment Securities, Inc.
"The recent Treasury rally created an opportunity for us, ahead of our bond maturities later this year," said Michael J. Allan, Praxair's vice president and treasurer.
The offering is expected to close on March 15, 2007. The company anticipates using the proceeds of the offering for general corporate purposes, which may include the refinancing of existing indebtedness. 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 prior to qualification under the securities laws of any such state or jurisdiction. 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 Citigroup Global Markets, Deutsche Bank Securities and Merrill Lynch.
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.