IHS Chemical Week

Markets :: Industrial Gases

Airgas Redeems Debt

10:41 AM MDT | October 14, 2009 | Vincent Valk

Airgas has redeemed two different series of debt, the company announced today. It has redeemed all $150 million of its debt due 2014 for $154.7 million, or 103.125% of the principal. The debt originally carried an interest rate of 6.25%. The company has also redeemed $58 million of its $400 million in debt due 2018. That debt, which carries an interest rate of 7.125%, was redeemed at an average price of 102.2% of principal. The company is expecting a loss of $8 million, or 7 cts/share, on the combined cost of the debt redemptions. It is also expecting a $1.7...

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