By Rebecca Melvin
Concord, N.H., May 19 – Air Liquide Finance priced €500 million 0.375% 10-year green senior notes at 99.161 to yield 0.461%, or mid-swaps plus 28 basis points, according to a market source on Wednesday.
The issue (expected ratings: A3/A-), guaranteed by L’Air Liquide SA, represents the company’s inaugural green note.
The notes have a make-whole call at Bunds plus 10 bps and a three-month par call.
BNP Paribas, Credit Agricole CIB, HSBC, Natixis and Societe Generale were bookrunners of the offering.
The proceeds will be used for eligible green projects aligned with the company’s sustainable financing framework.
Air Liquide is a Paris-based multinational company that supplies industrial gasses and services to industries, including medical, chemical and electronic manufacturers.
| Issuer: | Air Liquide Finance
|
| Guarantor: | L’Air Liquide SA
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| Issue: | Green senior notes
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| Amount: | €500 million
|
| Maturity: | May 27, 2031
|
| Bookrunners: | BNP Paribas, Credit Agricole CIB, HSBC, Natixis and Societe Generale
|
| Coupon: | 0.375%
|
| Price: | 99.161
|
| Yield: | 0.461%
|
| Spread: | Mid-swaps plus 28 bps
|
| Calls: | Make-whole call at Bunds plus 10 bps followed by par call
|
| Trade date: | May 19
|
| Settlement date: | May 27
|
| Ratings: | Moody’s: A3
|
| S&P: A-
|
| Distribution: | Regulation S
|
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