Air Products Issues Investment-Grade Notes to Fund Clean Hydrogen Projects
Key Ideas
  • Air Products, a prominent industrial gases company, raised $1.1 billion through the issuance of investment-grade notes due in 2028 and 2032.
  • The funds will be used to support the development of clean hydrogen projects aimed at promoting low- and zero-carbon energy solutions in heavy-duty transportation and industrial sectors.
  • Davis Polk's capital markets team, based in New York, provided legal counsel for the offering, ensuring successful completion.
  • The move reflects Air Products' commitment to advancing sustainable energy practices and investing in innovative solutions for a greener future.
Air Products and Chemicals, Inc., a renowned industrial gases company with a history of over 80 years, recently issued investment-grade notes amounting to $1.1 billion. The notes, with maturities in 2028 and 2032, were part of a SEC-registered offering. The company's primary focus lies in providing essential industrial gases, equipment, and expertise to various industries while also venturing into clean hydrogen projects. These projects, developed, engineered, and operated by Air Products, play a crucial role in facilitating the transition towards low- and zero-carbon energy in heavy-duty transportation and industrial sectors. The successful offering, led by the Davis Polk capital markets team based in New York, showcased the confidence in Air Products' initiatives. With legal, tax, and environmental advice provided by experts, the issuance of the notes signifies a strategic move towards sustainable energy practices. Air Products' commitment to fostering a greener future through innovative clean energy solutions is evident in this significant financial endeavor.
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