Airgas to price $350 million 10-year senior subordinated notes Thursday

By Paul A. Harris

St. Louis, June 4 - Airgas, Inc. will host an investor call at 11 a.m. ET on Thursday for a $350 million offering of 10-year senior subordinated notes (Ba2/BB+/), according to an informed source.

The deal is expected to price late Thursday afternoon.

Banc of America Securities LLC, Goldman Sachs & Co. and J.P. Morgan Securities Inc. are joint bookrunners for the Rule 144A with registration rights notes. BNY Securities and Barclays Capital are joint lead managers. Wachovia Securities, Mitsubishi Securities International, Calyon Securities, PNC Securities, Scotia Capital, Mizuho Securities, NatCity Investments, Daiwa Securities America, SunTrust Robinsion Humphrey and RBS Greenwich Capital are co-managers.

The notes come with five years of call protection.

Proceeds will be used to repay revolver debt.

The prospective issuer is a Radnor, Pa.-based distributor of industrial, medical and specialty gases.

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