(Archived) Praxair Issues $400 Million of 1.75% Notes Due 2012
DANBURY, CT, November 10, 2009 — Praxair, Inc. (NYSE: PX) has priced $400 million of 1.75% notes due November 15, 2012. 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 Banc of America Securities LLC and Deutsche Bank Securities Inc.
“The shorter term of three years matched our debt maturity profile and the strong buying interest provided tight pricing that continued to drive down our long term fixed funding costs,” said Michael J. Allan, Praxair’s vice president and treasurer.
The offering is expected to close on November 16, 2009. The company anticipates using the proceeds of the offering to repay short-term debt, to fund share repurchases under the company’s share repurchase program and for general corporate purposes. Prior to their application, the net proceeds may be invested in short-term investments. The company’s long-term debt is rated A2 by Moody’s Investors Service and A by Standard and Poor’s, a division of The McGraw-Hill Companies.
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 100 West 33rd Street, New York, NY 10001, 1-800-294-1322, Attention: Prospectus Department, or Deutsche Bank Securities Inc. at Harborside Financial Center, 100 Plaza One, Jersey City, New Jersey, 07311-3988, 1-800-503-4611, Attention: Prospectus Department.
Praxair is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2008 sales of $10.8 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.