Air Liquide Successfully Issues €2 Billion Multi-Tranche Bond

On October 6, 2026, Air Liquide announced the successful issuance of a €2 billion multi-tranche bond. The issuance was executed by Air Liquide Finance and guaranteed by L’Air Liquide SA, with settlement set for October 13, 2026. The bond includes three tranches: a €400 million floating rate note maturing in 2028, a €750 million fixed rate tranche maturing in 2031 with a 4.000% coupon, and an €850 million fixed rate tranche maturing in 2036 with a 4.500% coupon.

This transaction marks Air Liquide’s return to the Euro market, following a previous issuance in the Swiss market. The funds will be used for general corporate purposes and debt refinancing. The bond garnered significant investor interest, evidenced by oversubscription. Rated “A” by Standard & Poor’s and others, the issuance supports the company's strategic plan, BEYOND 2030, enhancing future growth market endeavors according to CFO Jérôme Pelletan.