Air Liquide successfully launches a €1 billion long term bond issuance

Paris, France, March 26, 2020

This transaction, largely oversubscribed by investors, was executed under the Group's Euro Medium Term Note (EMTN) programme. With this issuance, Air Liquide is raising €1 billion, including €500 million with a 5-year maturity at a yield of 1.022% and €500 million with a 10-year maturity at a yield of 1.47%.

Proceeds from this issuance will allow the Group to refinance its June 2020 bond maturities in advance and will secure financing to support long term profitable growth.

This issue will be rated « A- » by Standard & Poor’s and « A3 » by Moody’s.

Fabienne Lecorvaisier, Executive Vice President Finance and Operations Control, commented:

In a more difficult environment and despite numerous uncertainties, this success demonstrates that the resilience of Air Liquide’s business model is well understood by the markets. It reinforces our liquidity position and allows us to confidently face the current situation”.

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