New Issue: Airgas prices $300 million 3.65% notes due 2024 at 108 bps spread

By Aleesia Forni

Virginia Beach, June 12 – Airgas, Inc. priced $300 million of 3.65% senior notes due 2024 with a spread of Treasuries plus 108 basis points, according to a market source.

The notes (Baa2/BBB/) sold at 99.805 to yield 3.673%.

BofA Merrill Lynch, Goldman Sachs & Co. and Wells Fargo Securities LLC were the joint bookrunners.

The maker of specialty and industrial gases is based in Radnor, Pa.

Issuer:	Airgas Inc.
Amount:	$300 million
Description:	Senior notes
Maturity:	2024
Bookrunners:	BofA Merrill Lynch, Goldman Sachs & Co., Wells Fargo Securities LLC
Lead managers:	SunTrust Robinson Humphrey Inc., U.S. Bancorp Investments Inc.
Co-managers:	Credit Agricole Securities (USA) Inc., Mitsubishi UFJ Securities, HSBC Securities (USA) Inc., PNC Capital Markets LLC, RBS Securities Inc., SMBC Nikko, Mizuho Securities USA Inc., Santander Investment Securities Inc.
Coupon:	3.65%
Price:	99.805
Yield:	3.673%
Spread:	Treasuries plus 108 bps
Trade date:	June 12
Ratings:	Moody’s: Baa2
	Standard & Poor's: BBB
Price talk:	Treasuries plus 110 bps area

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