Air Liquide has successfully issued a 2.15 billion euros multi-tranche bond. This large-scale financial operation is intended for the financing of the strategic acquisition of DIG Airgas to be closed in the upcoming months1. DIG Airgas is a major and recognized player in the industrial gas industry in the South Korean market, a country at the forefront of the next waves of development in key sectors like the semiconductors industry, decarbonized energy and mobility. This highly complementary acquisition is a strategic move that will strengthen our presence in the Republic of Korea and beyond in Asia, reinforcing our position across key existing and growing markets.
This transaction, significantly oversubscribed by investors, was executed under the Group’s Euro Medium Term Note (EMTN) programme. With this issuance, Air Liquide is raising 2.15 billion euros with 2-year, 4-year, 7.5-year and 12-year maturities at a weighted average interest rate below 3.00% per annum.
This issue will be rated « A » by Standard & Poor’s and Scope Ratings and « A2 » by Moody’s.
Jérôme Pelletan, Group Chief Financial Officer and Member of the Air Liquide Executive Committee, stated :
“The success of this bond issuance, confirms our strong market standing and reflects investors’ continued confidence in our robust business model and performance trajectory. The funds raised will be used to finance the acquisition of DIG Airgas. This strategic transaction is driven by the perfect complementarity between DIG Airgas and Air Liquide in the Republic of Korea, that will additionally deliver highly executable synergies, including secured growth from DIG’s investment backlog.”
1 Following the completion of relevant regulatory clearances
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Air Liquide has successfully issued a 2.15 billion euros multi-tranche bond to finance the DIG Airgas acquisition