Praxair (PX) Prices $500M Notes Offering
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Praxair, Inc. (NYSE: PX) prices $500 million aggregate principal amount of 4.055 Notes due March 15, 2021.
The offering is expected to close on March 4, 2011. 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.
The offering is expected to close on March 4, 2011. 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.
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