Air Products and Chemicals Inc, plans to sell a €300m ($394.1m), 10-year bond later on Wednesday, a banker familiar with the deal said.

The bond will be priced to yield 37 to 39 basis points over mid-swaps, he said allowing Air Products to raise investment capital against future success. BNP Paribas and Deutsche Bank are joint lead managers on the deal which could be a precursor to further expansion for the US group.

Air Products is rated A2 by Moody's Investors Service, and A by Standard & Poor's meaning the financial markets sees their credit rating as good.