Air Products Issues €2 Billion in Euro Notes
Ticker: APD · Form: 8-K · Filed: 2024-07-10T00:00:00.000Z
Sentiment: neutral
Topics: debt-issuance, financing, euro-notes
Related Tickers: APD
TL;DR
APD just dropped €2B in Euro Notes across multiple maturities. Debt issuance.
AI Summary
On July 10, 2024, Air Products & Chemicals, Inc. filed an 8-K to disclose the issuance of €1.0 billion in aggregate principal amount of Euro Notes. These notes include €500 million due 2025, €500 million due 2028, €500 million due 2032, and €500 million due 2035. The company is incorporated in Delaware and headquartered in Allentown, PA.
Why It Matters
This filing indicates Air Products is raising significant capital through debt issuance, which could be for expansion, acquisitions, or refinancing existing debt.
Risk Assessment
Risk Level: medium — Issuing debt increases financial leverage and interest expense, which can impact profitability and financial flexibility.
Key Numbers
- €2.0B — Euro Notes Issued (Total aggregate principal amount across all maturities.)
- 4 — Note Maturities (The issuance includes notes due in 2025, 2028, 2032, and 2035.)
Key Players & Entities
- Air Products & Chemicals, Inc. (company) — Filer
- July 10, 2024 (date) — Report Date
- €1.0 billion (dollar_amount) — Aggregate principal amount of Euro Notes
- €500 million (dollar_amount) — Principal amount due 2025
- €500 million (dollar_amount) — Principal amount due 2028
- €500 million (dollar_amount) — Principal amount due 2032
- €500 million (dollar_amount) — Principal amount due 2035
- Allentown, PA (location) — Company Headquarters
FAQ
What is the purpose of issuing these Euro Notes?
The filing does not explicitly state the purpose of the Euro Note issuance, but it is a common method for raising capital for general corporate purposes, expansion, or refinancing.
What are the specific interest rates for each tranche of Euro Notes?
The filing does not disclose the specific interest rates for the Euro Notes issued.
What is the total aggregate principal amount of the Euro Notes issued?
The total aggregate principal amount of the Euro Notes issued is €2.0 billion, comprised of four tranches of €500 million each.
When were these Euro Notes issued?
The filing indicates the report date is July 10, 2024, and the notes are disclosed as part of this report, implying issuance around this date.
What are the maturity dates for the issued Euro Notes?
The Euro Notes have maturities in 2025, 2028, 2032, and 2035.
From the Filing
0001193125-24-177294.txt : 20240710 0001193125-24-177294.hdr.sgml : 20240710 20240710164604 ACCESSION NUMBER: 0001193125-24-177294 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 17 CONFORMED PERIOD OF REPORT: 20240710 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240710 DATE AS OF CHANGE: 20240710 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Air Products & Chemicals, Inc. CENTRAL INDEX KEY: 0000002969 STANDARD INDUSTRIAL CLASSIFICATION: INDUSTRIAL INORGANIC CHEMICALS [2810] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 231274455 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-04534 FILM NUMBER: 241110399 BUSINESS ADDRESS: STREET 1: 1940 AIR PRODUCTS BLVD. CITY: ALLENTOWN STATE: PA ZIP: 18106-5500 BUSINESS PHONE: 6104814911 MAIL ADDRESS: STREET 1: 1940 AIR PRODUCTS BLVD. CITY: ALLENTOWN STATE: PA ZIP: 18106-5500 FORMER COMPANY: FORMER CONFORMED NAME: AIR PRODUCTS & CHEMICALS, INC. DATE OF NAME CHANGE: 20220408 FORMER COMPANY: FORMER CONFORMED NAME: AIR PRODUCTS & CHEMICALS INC /DE/ DATE OF NAME CHANGE: 19920703 8-K 1 d861126d8k.htm 8-K 8-K Air Products & Chemicals, Inc. false 0000002969 0000002969 2024-07-10 2024-07-10 0000002969 us-gaap:CommonClassAMember 2024-07-10 2024-07-10 0000002969 apd:A1000EuroNotesDue2025Member 2024-07-10 2024-07-10 0000002969 apd:A0500EuroNotesDue2028Member 2024-07-10 2024-07-10 0000002969 apd:A0800EuroNotesDue2032Member 2024-07-10 2024-07-10 0000002969 apd:A4000EuroNotesDue2035Member 2024-07-10 2024-07-10     UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549     FORM 8-K     CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) July 10, 2024     Air Products and Chemicals, Inc. (Exact name of registrant as specified in charter)       Delaware   001-04534   23-1274455 (State or Other Jurisdiction of Incorporation)   (Commission File Number)   (IRS Employer Identification No.) 1940 Air Products Boulevard Allentown , Pennsylvania 18106-5500 (Address of principal executive offices and zip code) (610) 481-4911 Registrant’s telephone number, including area code not applicable (Former name or former address, if changed since last report)     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):     ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)     ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)     ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))     ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common Stock, par value $1.00 per share   APD   New York Stock Exchange 1.000% Euro Notes due 2025   APD25   New York Stock Exchange 0.500% Euro Notes due 2028   APD28   New York Stock Exchange 0.800% Euro Notes due 2032   APD32   New York Stock Exchange 4.000% Euro Notes due 2035   APD35   New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 under the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 under the Securities Exchange Act of 1934 (17 CFR 240.12b-2). Emerging growth company  ☐ If an emerging growth co