Airgas Issues $400 Million of 3.05% Senior Notes Due 2020
By Business Wire News
By Business Wire News
Airgas, Inc. (NYSE: ARG) announced today it has priced $400 million of 3.05% senior notes due August 1, 2020. The offering is expected to close on August 11, 2015, subject to customary closing conditions. The Company’s long-term debt is rated Baa2 by Moody’s Investors Service and BBB by Standard and Poor’s Corporation.
The Company intends to use the net proceeds from the offering for general corporate purposes, including to fund acquisitions, to repay indebtedness and to repurchase shares pursuant to its stock repurchase program. Initially, the Company expects to use the net proceeds to repay indebtedness under its commercial paper program, which will free up capacity thereunder to repay its $250 million 3.25% senior notes maturing on October 1, 2015.
Goldman, Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated, U.S. Bancorp Investments, Inc., and Wells Fargo Securities, LLC, acted as joint book-running managers on this transaction and representatives of the several underwriters.
The notes are being offered under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission. The offering will be made only by means of a preliminary prospectus supplement and accompanying base prospectus, copies of which may be obtained by contacting: Goldman, Sachs & Co. by phone at 866-471-2526 or by email at email@example.com; Merrill Lynch, Pierce, Fenner & Smith Incorporated by mail at 222 Broadway, 11th Floor, New York, New York 10038, Attention: Prospectus Department, by phone at 800-294-1322 or by email at firstname.lastname@example.org; U.S. Bancorp Investments, Inc., by phone at 877-558-2607; and Wells Fargo Securities, LLC, by mail at 608 2nd Avenue, South Minneapolis, Minnesota 55402, Attention: WFS Customer Service, by phone at 800-645-3751 (toll-free) or by email at email@example.com. A copy of the preliminary prospectus supplement and accompanying base prospectus may also be obtained at no charge at the Securities and Exchange Commission’s website, at www.sec.gov.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Airgas, Inc.
Airgas, Inc. (NYSE: ARG), through its subsidiaries, is one of the nation’s leading suppliers of industrial, medical and specialty gases, and hardgoods, such as welding equipment and related products. Airgas is a leading U.S. producer of atmospheric gases with 16 air separation plants, a leading producer of carbon dioxide, dry ice, and nitrous oxide, one of the largest U.S. suppliers of safety products, and a leading U.S. supplier of refrigerants, ammonia products, and process chemicals. Approximately 17,000 associates work in more than 1,100 locations, including branches, retail stores, gas fill plants, specialty gas labs, production facilities and distribution centers. Airgas also markets its products and services through e-Business, catalog and telesales channels. Its national scale and strong local presence offer a competitive edge to its diversified customer base.
This press release contains statements that are forward looking, as that term is defined by the Private Securities Litigation Reform Act of 1995 or by the SEC in its rules, regulations and releases. These statements include, but are not limited to: expectations that the offering will close on August 11, 2015; expectations that the net proceeds of the offering will be used for general corporate purposes, including acquisitions, the repayment of indebtedness and to repurchase shares pursuant to its stock repurchase program; and expectations that the net proceeds of the offering will initially be used to repay indebtedness under the Company’s commercial paper program. Forward-looking statements also include any statement that is not based on historical fact, including statements containing the words “believes,” “may,” “plans,” “will,” “could,” “should,” “estimates,” “continues,” “anticipates,” “intends,” “expects,” and similar expressions. We intend that such forward-looking statements be subject to the safe harbors created thereby. All forward-looking statements are based on current expectations regarding important risk factors and should not be regarded as a representation by us or any other person that the results expressed therein will be achieved. Airgas assumes no obligation to revise or update any forward-looking statements for any reason, except as required by law. Important factors that could cause actual results to differ materially from those contained in any forward-looking statement include: Airgas’ ability to sell the notes; an economic downturn; supply cost pressures; increased industry competition; our ability to successfully consummate and integrate acquisitions; adverse changes in customer buying patterns; significant fluctuations in interest rates; increases in energy costs and other operating expenses; the effect of catastrophic events; political and economic uncertainties associated with current world events; and other factors described in the Company’s reports, including its Form 10-K dated March 31, 2015, subsequent Form 10-Q dated June 30, 2015, and other Forms filed by the Company with the Securities and Exchange Commission.