debt
confidence high
sentiment neutral
materiality 0.50
Air Products issues $600M 4.800% notes due 2033 and €700M 4.000% notes due 2035
Air Products & Chemicals, Inc.
- Net proceeds of ~$594.9M from U.S. notes and ~€688.6M from Eurobonds.
- Proceeds to finance eligible projects: pollution control, renewable energy, sustainable aviation fuel.
- Notes issued under existing indenture; U.S. notes redeemable at company's option, Eurobonds redeemable on tax events.
- Underwriters include Citigroup, SMBC Nikko, J.P. Morgan, Mizuho for U.S.; Citigroup, SMBC Nikko, BNP Paribas, HSBC for Euro.
- Company may hold proceeds in treasury or repay debt pending allocation.