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Praxair Issues $400 Million in Debt at 1.75% (Updated)

1:52 PM MST | November 10, 2009 | Vincent Valk

Praxair has issued $400 million in new debt securities due in 2012, the company announced today. The debt carries an interest rate of 1.75%. The current debt issue is expected to close on November 16. Praxair's long-term debt is rated A2 by Moody's, and A by Standard and Poor's. "The past two days have been two of the best days all year to issue," says Eric Peiffer managing director/debt markets at KeyBanc Capital Markets, noting that many deals are pricing very close to where comparable existing bonds are trading. The recent Praxair deal was priced a...

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