Airgas has announced it has priced $325m of 1.65% senior notes, due February 15 2018, and $275m of 2.375% senior notes, due February 15 2020.
The offering is expected to close on February 14 2013, subject to customary closing conditions. The company’s long-term debt is rated Baa2 by Moody’s Investors Service and BBB by Standard and Poor’s Corporation.
The company intends to use the net proceeds from the offering for general corporate purposes, including to fund acquisitions, to repay indebtedness under the company’s commercial paper program and to repurchase shares pursuant to the company’s stock repurchase program. Initially, the company expects to use the net proceeds to repay indebtedness under its commercial paper program.
Goldman, Sachs & Co, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Securities, LLC, served as Joint Book-Running Managers on this transaction.