Air Products and Chemicals $2.5 billion green notes offering
The investment-grade notes are due 2029, 2031 and 2034
Davis Polk advised the representatives of the several underwriters in connection with the SEC-registered green bond offering by Air Products and Chemicals, Inc. of $750 million aggregate principal amount of its 4.600% notes due 2029, $600 million aggregate principal amount of its 4.750% notes due 2031 and $1.15 billion aggregate principal amount of its 4.850% notes due 2034.
Air Products is a world-leading industrial gases company in operation for over 80 years and focused on serving energy, environmental and emerging markets. Air Products’ base business provides essential industrial gases, related equipment and applications expertise to customers in dozens of industries. Air Products also develops, engineers, builds, owns and operates some of the world’s largest clean hydrogen projects supporting the transition to low- and zero-carbon energy in the heavy-duty transportation and industrial sectors.
The Davis Polk capital markets team included partner Roshni Banker Cariello, counsel Jennifer Ying Lan and associate Frank Zhang. Partner Corey M. Goodman and associates Charles Collier and Jenna Battaglia provided tax advice. Counsel Michael Comstock provided environmental advice. All members of the Davis Polk team are based in the New York office.