Air Liquide Successfully Launches a 600 Million Euros Long Term Bond Issuance

Rhea-AI Summary

Air Liquide launched a €600 million bond issuance aimed at refinancing existing debt and supporting long-term growth. The bond, guaranteed by L’Air Liquide SA, offers a fixed rate of 2.875% with a 10-year maturity, maturing on September 16, 2032. Investors showed strong interest, leading to significant oversubscription, and the bond is rated 'A' by Standard & Poor’s and 'A2' by Moody’s. CFO Jérôme Pelletan emphasized the transaction's success reflects investor confidence in Air Liquide’s financial health, stability, and resilience in a challenging economic environment.

Positive

• Successfully launched a €600 million bond issuance.
• Bond significantly oversubscribed, indicating strong investor interest.
• Competitive yield of 2.875% despite a tightening credit market.
• Bond rated 'A' by Standard & Poor’s and 'A2' by Moody’s.

Negative

• None.

PARIS--(BUSINESS WIRE)-- Regulatory News:

Air Liquide (Paris:AI):

Main characteristics are as follows:

• Amount : €600 million
• Issuer : Air Liquide Finance, guaranteed by L’Air Liquide SA
• Settlement : September 16, 2022
• Maturity : September 16, 2032 (10 years)
• Format: Fixed rate, repayment at maturity
• Coupon: 2.875% p.a.

Air Liquide has successfully launched a 600 million euros bond issuance dedicated to the refinancing of its September 2022 bond maturities and to the financing of its long term growth, under conditions which remain very competitive in spite of the recent tightening of the credit market.

This transaction, very significantly oversubscribed by investors, was executed under the Group's Euro Medium Term Note (EMTN) programme. With this issuance, Air Liquide is raising €600 million with a 10-year maturity at a yield of 2.982%.

This issuance will be rated « A » by Standard & Poor’s and « A2 » by Moody’s.

Jérôme Pelletan, Chief Financial Officer of Air Liquide Group, said: “ The success of this transaction illustrates the recognition by investors of Air Liquide’s quality as an issuer and the solidity of its balance sheet. In a more difficult economic environment, it also demonstrates the stability and resilience of the Air Liquide Group’s earnings and cash flow generation, which Moody’s acknowledged a few days ago by upgrading its credit rating on the Group. ”

A world leader in gases, technologies and services for Industry and Health, Air Liquide is present in 75 countries with approximately 66,400 employees and serves more than 3.8 million customers and patients. Oxygen, nitrogen and hydrogen are essential small molecules for life, matter and energy. They embody Air Liquide’s scientific territory and have been at the core of the company’s activities since its creation in 1902.

Taking action today while preparing the future is at the heart of Air Liquide’s strategy. With ADVANCE, its strategic plan for 2025, Air Liquide is targeting a global performance, combining financial and extra-financial dimensions. Positioned on new markets, the Group benefits from major assets such as its business model combining resilience and strength, its ability to innovate and its technological expertise. The Group develops solutions contributing to climate and the energy transition—particularly with hydrogen—and takes action to progress in areas of healthcare, digital and high technologies.

Air Liquide’s revenue amounted to more than 23 billion euros in 2021. Air Liquide is listed on the Euronext Paris stock exchange (compartment A) and belongs to the CAC 40, CAC 40 ESG, EURO STOXX 50 and FTSE4Good indexes.

www.airliquide.com
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Relations Médias

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Relations Investisseurs

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Source: Air Liquide

FAQ

What is the bond issuance amount by Air Liquide?

Air Liquide launched a bond issuance amounting to €600 million.

What is the maturity date of Air Liquide's bond?

The bond matures on September 16, 2032.

What is the coupon rate of Air Liquide's bond?

The coupon rate of the bond is 2.875% per annum.

How did investors respond to Air Liquide's bond issuance?

The bond issuance was significantly oversubscribed by investors, indicating strong interest.

What ratings did the bond receive from credit agencies?

The bond is rated 'A' by Standard & Poor’s and 'A2' by Moody’s.