Air Liquide successfully launches a 500 million euros long term bond issuance

Main characteristics are as follows:

• Amount: €500 million
• Issuer: Air Liquide Finance, guaranteed by L’Air Liquide SA
• Settlement: September 20, 2021          
• Maturity: September 20, 2033 (12 years)
• Format: Fixed rate, repayment at maturity
• Coupon: 0.375% p.a.

Air Liquide has successfully launched a 500 million euros bond issue dedicated to the refinancing of its September 2021 bond maturity and to the sustainable financing of the Group’s long term growth, all of this under very competitive conditions.

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 €500 million with a 12-year maturity at a yield of 0.390%.

This issue will be rated « A » by Standard & Poor’s and « A3 » by Moody’s.

Jérôme Pelletan, Chief Financial Officer, commented:

“Air Liquide is taking advantage of favorable market conditions to refinance its bond maturities and to finance over the long term its sustainable growth in its numerous businesses. The good conditions in which the Group has realized this bond issue illustrate the recognition by the investors, and recently by the credit rating agency Standard & Poor’s, of the continuous strengthening of the Group's balance sheet notably since the Airgas acquisition in 2016. It complements the first green bond issue we made in May to more specifically finance and refinance several sustainable projects, in particular in hydrogen, biogas and oxygen.”