Praxair Issues $500 Million of Seven-Year Bonds
March 04, 2008
DANBURY, CT, March 04, 2008 — Praxair, Inc. (NYSE: PX) has priced $500 million of seven-year bonds maturing March 30, 2015 at a coupon interest rate of 4.625% and a price of 99.859%. The notes are being offered under its universal shelf registration statement filed with the U.S. Securities and Exchange Commission. The offering is led by Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., and HSBC Securities (USA) Inc. Co-managers are Banc of America Securities LLC, Citigroup Global Markets Inc., J.P. Morgan Securities Inc., Merrill, Lynch, Pierce, Fenner & Smith Incorporated and Santander Investment Securities, Inc.
“With treasury bonds nearing five-year lows and overall costs below 5%, this is an attractive financing opportunity,” said Michael J. Allan, Praxair’s vice president and treasurer.
The offering is expected to close on March 07, 2008. The company anticipates using the proceeds of the offering to repay short-term debt which was incurred to repay maturing long term debt, to fund share repurchases 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 calling Credit Suisse Securities (USA) LLC toll free at 1-800-221-1037, Deutsche Bank Securities Inc. toll free at 1-800-503-4611 or HSBC Securities (USA) Inc. toll free at 1-866-811-8049.
Praxair is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2007 sales of $9.4 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.