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Print Edition StoriesFriday, August 28, 2009
Praxair files $400M shelf registration
By Mass High Tech staff
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Industrial gas firm Praxair Inc. plans to raise $400 million through a notes offering filed with the U.S. Securities and Exchange Commission, the company announced today.
Proceeds from the offering, expected to close Sept. 1, will be used by Praxair to pay off its short-term debt and for general corporate purposes. The 3.25 percent notes will be due Sept. 15, 2015. The debt offering is being managed by Citigroup Global Markets Inc. and RBS Securities Inc.
Praxair (NYSE: PX) makes and sells high-performance surface coatings and atmospheric and process gases. The company reported $10.8 billion in sales for 2008.
Last year, Praxair proposed its carbon capture technology, which captures emissions from coal-fired electricity-generating plants, to receive part of the U.S. Department of Energy’s $340 million funds for distribution.
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