U.S. industrial, medical and specialty gases distributor Airgas has raised $250 million in a sale of senior notes. The securities, which carry a coupon rate of 2.95%, are due to mature on June 15, 2016. The company seeks to use the proceeds to repay indebtedness under its revolving credit facilities, to buy back shares and for general purposes. Goldman Sachs, Merrill Lynch, Pierce, Fenner & Smith and Wells Fargo Securities acted as joint book-running managers for the offering.
Click here for the release from Airgas.