Air Liquide Finance announces the issuance of its first bond denominated in Chinese renminbi, for a total of 1.75 billion RMB, equivalent to 195 million euros. This bond, secured by L’Air Liquide SA, has been rated ‘A’ by Standard & Poor’s, and was placed with investors mostly in Asia.
Air Liquide is the first French company to issue bonds denominated in Renminbi.
Air Liquide has received approval from the Chinese central bank to repatriate the funds in mainland China.
Characteristics of the bonds:
Amount: RMB 1,750 million
Maturity: September 19, 2016
Coupon: 3.00 %
The bond proceeds will contribute to the financing of the development of Air Liquide’s activities in China, by diversifying the Group’s funding sources at attractive market conditions. Today, Air Liquide employs 3,500 people in China and operates more than 40 plants in various industrial areas.
“This operation, which benefits from favorable market conditions, will help finance the group’s development in China, while diversifying its funding sources,” says Air Liquide.