Air Products Issues $2.5B Notes for Eco-Friendly Projects

Air Products and Chemicals (APD) has released an update.

Air Products and Chemicals, Inc. has partnered with major financial institutions to issue a total of $2.5 billion in notes, with maturity dates ranging from 2029 to 2034 and interest rates between 4.600% to 4.850%. The proceeds from this offering, which are expected to close by February 8, 2024, will primarily fund environmentally focused projects, such as green hydrogen and ammonia initiatives, renewable energy, and sustainable aviation fuel. Until these proceeds are fully allocated, the company may use them for general corporate purposes, including debt repayment.

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For a comprehensive understanding of the announcement, you can read the full document here.