Air Liquide has successfully launched a €1bn long term bond issuance, the French industrial gas giant announced last night.

Proceeds from this issuance will allow Air Liquide to refinance its June 2020 bond maturities in advance and will secure financing to support long term profitable growth, the company said.

This transaction, largely oversubscribed by investors, was executed under the Air Liquide’s Euro Medium Term Note (EMTN) programme.

With this issuance, Air Liquide is raising €1bn, including €500m with a five-year maturity at a yield of 1.022% and €500m with a 10-year maturity at a yield of 1.47%.

Fabienne Lecorvaisier, Executive Vice-President of Finance and Operations Control, said, “In a more difficult environment and despite numerous uncertainties, this success demonstrates that the resilience of Air Liquide’s business model is well understood by the markets.”

“It reinforces our liquidity position and allows us to confidently face the current situation.”