Air Liquide: Completion of the Tender Offer for Part of Three Bond Series Maturing on June 5, 2024, June 13, 2024 and April 2, 2025
November 14 2023 - 10:00AM
Business Wire
Regulatory News:
Air Liquide (Paris:AI):
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION DIRECTLY OR
INDIRECTLY TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE
U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “ SECURITIES ACT”)) OR
ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS
TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN
ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA
ISLANDS), ANY STATE OF THE UNITED STATES OR THE DISTRICT OF
COLUMBIA OR IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO
RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT.
Air Liquide Finance (the “Company”) completed the tender
offer in cash (the “Tender Offer”) for part of the following
three bond series: €500,000,000 1.875 per cent. notes due June 5,
2024 (ISIN: FR0011951771) issued by the Company on June 5, 2014,
unconditionally and irrevocably guaranteed by L’Air Liquide S.A.
(the “5 June 2024 Notes”), €500,000,000 0.75 per cent. notes
due June 13, 2024 (ISIN: FR0013182839) issued by the Company on
June 13, 2016, unconditionally and irrevocably guaranteed by L’Air
Liquide S.A. (the “13 June 2024 Notes”) and €500,000,000
1.000 per cent. notes due April 2, 2025 (ISIN: FR0013505559) issued
by the Company on April 2, 2020, unconditionally and irrevocably
guaranteed by L’Air Liquide S.A. (the “2 April 2025 Notes”
and, together with the 5 June 2024 Notes and the 13 June 2024
Notes, the “Notes”).
The Tender Offer expired at 4 p.m. CET on 13 November 2023 and
the settlement date for the Tender Offer is expected on 16 November
2023.
The aggregate nominal amount of Notes accepted by the Company in
the context of the Tender Offer amounts to €236.2 million, split as
follows: €59.2 million in principal amount of 5 June 2024 Notes,
€48.6 million in principal amount of 13 June 2024 Notes and €128.4
million in principal amount of 2 April 2025 Notes. The tendered
Notes will be cancelled in the Company’s books.
The remaining outstanding amount of the three series of Notes
will hence amount to, respectively, €440.8 million in principal
amount of 5 June 2024 Notes, €451.4 million in principal amount of
13 June 2024 Notes and €371.6 million in principal amount of 2
April 2025 Notes.
This Tender Offer enables the Company to proactively optimise
its funding structure.
Barclays Bank Ireland PLC, Crédit Industriel et Commercial S.A.
and Intesa Sanpaolo S.p.A. acted as Dealer Managers.
* * *
WARNING This regulated information contains certain
forward-looking statements regarding future events, trends,
projects or targets. These forward-looking statements are subject
to identified and unidentified risks and uncertainties that could
cause actual results to differ materially from the results
anticipated in the forward-looking statements. The Company makes no
undertaking in any form to publish updates or adjustments to these
forward-looking statements, nor to report new information, new
future events or any other circumstances that might cause these
statements to be revised.
This regulated information does not constitute an invitation to
participate in the Tender Offer in or from any jurisdiction in or
from which, or to or from any person to or from whom, it is
unlawful to make such invitation under applicable securities laws.
The distribution of this announcement in certain jurisdictions may
be restricted by law. Persons into whose possession this
announcement comes are required to inform themselves about, and to
observe, any such restrictions.
A world leader in gases, technologies and services for Industry
and Health, Air Liquide is present in 73 countries with
approximately 67,100 employees and serves more than 3.9 million
customers and patients. Oxygen, nitrogen and hydrogen are essential
small molecules for life, matter and energy. They embody Air
Liquide’s scientific territory and have been at the core of the
company’s activities since its creation in 1902.
Taking action today while preparing the future is at the heart
of Air Liquide’s strategy. With ADVANCE, its strategic plan for
2025, Air Liquide is targeting a global performance, combining
financial and extra-financial dimensions. Positioned on new
markets, the Group benefits from major assets such as its business
model combining resilience and strength, its ability to innovate
and its technological expertise. The Group develops solutions
contributing to climate and the energy transition—particularly with
hydrogen—and takes action to progress in areas of healthcare,
digital and high technologies.
Air Liquide’s revenue amounted to more than 29.9 billion euros
in 2022. Air Liquide is listed on the Euronext Paris stock exchange
(compartment A) and belongs to the CAC 40, CAC 40 ESG, EURO STOXX
50, FTSE4Good and DJSI Europe indexes.
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