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| Name | Symbol | Market | Type |
|---|---|---|---|
| L Air Liquide (PK) | USOTC:AIQUY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.03 | -0.09% | 34.78 | 34.15 | 35.35 | 34.9399 | 34.57 | 34.57 | 155,021 | 22:20:00 |
Airgas Inc. (ARG) recently offered senior notes worth $250 million, having a coupon rate of 2.95%; maturing on June 15, 2016. The offer must be accepted within June 3, 2011. This offering comes under a shelf registration statement filed with the U.S. Securities and Exchange Commission.
The proceeds from the offer will be utilized for general corporate purposes, acquisitions, repayment of debts under Airgas’ revolving credit facility and to buy shares under the share repurchase program of the company. The company initially plans to use the proceeds for repayment of debt, which amounted to $1.8 billion as of March 31, 2011. The company’s long-term debt has been rated BBB by Standard and Poor’s Corporation and Baa2 by Moody’s Investors Service.
The offer is being made only by a means of preliminary prospectus; a copy of which can be obtained from any of the book running managers. Goldman, Sachs & Co. (GS), Merrill Lynch (MTTX), Pierce, Fenner & Smith Incorporated and Wells Fargo Securities LLC (WFC), are acting as Joint Book-Running Managers on this transaction.
Airgas has recently realigned its operations dividing it into four divisions: viz, West, North, South and Central to reap the benefits from its new customized SAP information platform. Airgas has also made two major acquisitions including Waterford, Connecticut-based ABCO Gases, Welding and Industrial Supply Company Inc. ABCO and Bloomington, Indiana-based Pain Enterprises Inc. The merits of these strategic actions are likely to be reflected in the next quarterly results of the company.
Based in Randor, Pennsylvania, Airgas, through its subsidiaries, distributes industrial, medical, and specialty gases, as well as hard goods in the United States. Airgas competes with Air Products (APD) and L'Air Liquide SA (AIQUY). Currently, the company retains a Zacks #3 Rank, which translates into a short-term (1 to 3 months) Hold rating.
1 Year L Air Liquide (PK) Chart |
1 Month L Air Liquide (PK) Chart |
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