Air Products (NYSE:APD) today announced the pricing of its registered offerings of $3.8 billion aggregate principal amount of U.S. dollar-denominated fixed-rate notes and €1.0 billion aggregate principal amount of euro-denominated fixed-rate notes.

Air Products intends to use the net proceeds from the notes offerings to repay upcoming debt maturities and for general corporate purposes, including financing a planned equity investment of approximately $2.5 billion in the joint venture that will acquire the gasification, power and industrial gas assets at Jazan Economic City, Saudi Arabia, and other investments in industrial gas projects. Air Products intends to use a portion of the net proceeds from the euro-denominated notes offering to repay €300 million aggregate principal amount of its 2.000% Notes due 2020, which mature on August 7, 2020, and €350 million aggregate principal amount of its 0.375% Notes due 2021, which mature on June 1, 2021, and may use a portion of the net proceeds from the U.S. dollar-denominated notes offering to repay up to $400 million aggregate principal amount of its 3.000% Notes due 2021, which mature on November 3, 2021.

The U.S. dollar-denominated offering priced on April 27, 2020 and is expected to close on April 30, 2020 and the euro-denominated offering priced on April 28, 2020 and is expected to close on May 5, 2020, subject in each case to the satisfaction of customary closing conditions.

About Air Products

Air Products is a world-leading industrial gases company in operation for nearly 80 years. Focused on serving energy, environment and emerging markets, the Company provides essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemical, metals, electronics, manufacturing, and food and beverage. Air Products is also the global leader in the supply of liquefied natural gas process technology and equipment. The Company develops, engineers, builds, owns and operates some of the world's largest industrial gas projects, including gasification projects that sustainably convert abundant natural resources into syngas for the production of high-value power, fuels and chemicals.