Air Products and Chemicals enters $2.5 billion five-year revolver

By Wendy Van Sickle

Columbus, Ohio, March 31 – Air Products and Chemicals Inc. entered into on Friday a $2.5 billion-equivalent five-year revolving credit agreement with a syndicate of banks, according to an 8-K filing with the Securities and Exchange Commission.

The filing stated that the company’s only financial covenant is a maximum ratio of total debt to capitalization.

The revolver provides liquidity and supports the company’s commercial paper program.

The new agreement terminates and replaces the company’s existing $2.69 billion revolving credit agreement dated April 30, 2013.

Air Products is an industrial gas and chemical maker based in Allentown, Pa.

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