- Air Liquide issued a €2.15 billion multi-tranche bond.
- The bond finances the acquisition of DIG Airgas in South Korea.
- Maturities are set at 2, 4, 7.5, and 12 years.
- The bond is rated 'A' by S&P and Scope, 'A2' by Moody's.
Bond Issuance
Air Liquide has issued a €2.15 billion multi-tranche bond to finance its acquisition of DIG Airgas. The bond was significantly oversubscribed by investors, indicating strong market interest.
Acquisition Details
The funds will support the strategic acquisition of DIG Airgas, a key player in the South Korean industrial gas market. This move aims to enhance Air Liquide's presence in Asia, particularly in sectors like semiconductors, decarbonized energy, and mobility.
Bond Structure
The bond was issued under Air Liquide's Euro Medium Term Note (EMTN) program, featuring maturities of 2, 4, 7.5, and 12 years. The weighted average interest rate is below 3.00% per annum.
Credit Ratings
The bond issue is rated "A" by Standard & Poor’s and Scope Ratings, and "A2" by Moody’s, reflecting confidence in Air Liquide's financial stability and business model.
