Airgas, Inc. (NYSE: ARG) announced today it has priced $325 million of
1.650% senior notes due February 15, 2018 and $275 million of 2.375%
senior notes due February 15, 2020. The offering is expected to close on
February 14, 2013, subject to customary closing conditions. The
Company′s long-term debt is rated Baa2 by Moody′s Investors Service and
BBB by Standard and Poor′s Corporation.
The Company intends to use the net proceeds from the offering for
general corporate purposes, including to fund acquisitions, to repay
indebtedness under the Company′s commercial paper program and to
repurchase shares pursuant to the Company′s stock repurchase program.
Initially, the Company expects to use the net proceeds to repay
indebtedness under its commercial paper program.
Goldman, Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated
and Wells Fargo Securities, LLC, served as Joint Book-Running Managers
on this transaction.
The notes are being offered under a shelf registration statement filed
with the U.S. Securities and Exchange Commission. The offering will be
made only by means of a preliminary prospectus supplement and
accompanying base prospectus, copies of which may be obtained by
contacting Goldman, Sachs & Co. at 866-471-2526 or Merrill Lynch, Pierce, Fenner & Smith Incorporated at 800-294-1322 or and Wells Fargo Securities, LLC, 1525 West W.T. Harris Blvd., NC0675,
Charlotte, North Carolina 28262, Attention: Capital Markets Client
Support, toll-free: 800-326-5897 or emailing: A copy of the preliminary prospectus supplement and accompanying base
prospectus may also be obtained at no charge at the Securities and
Exchange Commission's website, at www.sec.gov.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein, nor
shall there be any sale of these securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such jurisdiction.
About Airgas, Inc.
Airgas, Inc. (NYSE: ARG), through its subsidiaries, is one of the
nation′s leading suppliers of industrial, medical and specialty gases,
and hardgoods, such as welding equipment and related products. Airgas is
a leading U.S. producer of atmospheric gases with 16 air separation
plants, a leading producer of carbon dioxide, dry ice, and nitrous
oxide, one of the largest U.S. suppliers of safety products, and a
leading U.S. supplier of refrigerants, ammonia products, and process
chemicals. More than 15,000 employees work in approximately 1,100
locations, including branches, retail stores, gas fill plants, specialty
gas labs, production facilities and distribution centers. Airgas also
markets its products and services through eBusiness, catalog and
telesales channels. Its national scale and strong local presence offer a
competitive edge to its diversified customer base. For more information,
please visit
Forward-Looking Statements
This press release may contain statements that are forward looking, as
that term is defined by the Private Securities Litigation Reform Act of
1995 or by the Securities and Exchange Commission in its rules,
regulations and releases. Forward-looking statements are generally
identified with the words 'believe,? 'expect,? 'anticipate,? 'intend,?
'estimate,? 'target,? 'may,? 'will,? 'would,? 'plan,? 'project,?
'should,? 'continue? or the negative thereof or other similar
expressions, or discussion of future goals or aspirations, which are
predictions of or indicate future events and trends and which do not
relate to historical matters. These statements include, but are not
limited to, statements that the offering is expected to close on
February 14, 2013, and that proceeds of the offering will be used for
general corporate purposes, including acquisitions, to repay
indebtedness under the Company′s commercial paper program, and to
repurchase shares pursuant to the Company′s stock repurchase program and
that the Company initially expects to use the net proceeds to repay
indebtedness under its commercial paper program. We intend that such
forward-looking statements be subject to the safe harbors created
thereby. All forward-looking statements are based on current
expectations regarding important risk factors and should not be regarded
as a representation by us or any other person that the results expressed
therein will be achieved. Factors that could cause actual results to
differ materially from those contained in any forward-looking statement
include: Airgas′ ability to sell the notes; an economic downturn; supply
cost pressures; increased industry competition; our ability to
successfully consummate and integrate acquisitions; adverse changes in
customer buying patterns; significant fluctuations in interest rates;
increases in energy costs and other operating expenses; the effect of
catastrophic events; political and economic uncertainties associated
with current world events; and other factors described in the Company's
reports, including its Form 10-K dated March 31, 2012, subsequent Forms
10-Q and other Forms filed by the Company with the Securities and
Exchange Commission.
