Main characteristics are as follows :
- Amount : €600 million
- Issuer : Air Liquide Finance, guaranteed by L’Air Liquide SA
- Settlement : September 16, 2022
- Maturity : September 16, 2032 (10 years)
- Format: Fixed rate, repayment at maturity
- Coupon: 2.875% p.a.
Air Liquide has successfully launched a 600 million euros bond issuance dedicated to the refinancing of its September 2022 bond maturities and to the financing of its long term growth, under conditions which remain very competitive in spite of the recent tightening of the credit market.
This transaction, very significantly oversubscribed by investors, was executed under the Group's Euro Medium Term Note (EMTN) programme. With this issuance, Air Liquide is raising €600 million with a 10-year maturity at a yield of 2.982%.
This issuance will be rated « A » by Standard & Poor’s and « A2 » by Moody’s.
Jérôme Pelletan, Chief Financial Officer of Air Liquide Group, said:
“ The success of this transaction illustrates the recognition by investors of Air Liquide’s quality as an issuer and the solidity of its balance sheet. In a more difficult economic environment, it also demonstrates the stability and resilience of the Air Liquide Group’s earnings and cash flow generation, which Moody’s acknowledged a few days ago by upgrading its credit rating on the Group. ”