Praxair issues five-year bonds

In mid-June industrial gases company Praxair, Inc. issued US$ 250 million of five-year bonds maturing 15 July 2007 at a coupon interest rate of 4.75% and a price of 99.599%. The issue was underwritten…

In mid-June industrial gases company Praxair, Inc. issued US$ 250 million of five-year bonds maturing 15 July 2007 at a coupon interest rate of 4.75% and a price of 99.599%. The issue was underwritten by Credit Suisse First Boston Corporation, J.P. Morgan Securities, Inc., and Salomon Smith Barney, Inc. The proceeds of the issue will be used to repay commercial paper and short-term borrowings. The company“s long-term debt is rated A3 by Moody“s Investors Service and BBB+ by Standard and Poor“s Corporation. Copies of the prospectus and the prospectus supplement related to the offering may be obtained from any of the above mentioned underwriters. Praxair produces, sells and distributes atmospheric and process gases, and high-performance surface coatings. Praxair“s products, services and technology bring productivity and environmental benefits to a wide variety of industries, including aerospace, chemicals, electronics, energy, food and beverage, healthcare, manufacturing, metals and others.