Praxair to Issue $500 Million in Bonds

Praxair is issuing $500 million in new bonds due 2021, the company announced yesterday. The bonds will carry an interest rate of 4.05%, and the offering closes on March 4. They are priced 67 basis points higher than benchmark ten-year U.S. treasury bonds. Proceeds from the bonds are expected to go towards repaying short-term debt and funding share repurchases, Praxair says. The bonds are investment-grade, rated 'A' by Standard & Poor's (New York) and 'A2' by Moody's (New York), in line with Praxair's overall corporate credit...

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