Aug 28 2009
Praxair, Inc. (NYSE:PX) has priced $400 million of 3.250% notes due September 15, 2015. 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 Citigroup Global Markets Inc. and RBS Securities Inc.
The offering is expected to close on September 1, 2009. The company anticipates using the proceeds of the offering to repay short-term debt 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 Corporation.