Air Products issues inaugural green bonds

Lehigh Valley-based Air Products, an industrial gas company, recently issued registered green bond offerings of $600 million.

Bonds were also issued as €700 million aggregate principal amount of euro-denominated fixed-rate notes.

Net proceeds from the notes offerings will finance or refinance one or more projects, including expenditures and investments related to pollution prevention and control–green and blue hydrogen and green and blue ammonia; expenditures in renewable energy; and expenditures and investments related to sustainable aviation fuel.

“Put simply, sustainability is our growth strategy at Air Products,” said Seifi Ghasemi, Air Products chairman, president and CEO. “We want to grow responsibly through sustainability-driven opportunities that benefit our customers and our world. Importantly, our multi-currency green bond offerings make us the first U.S. chemical company to issue with green and blue hydrogen as an eligible expenditure category, further reinforcing our leading position advancing the energy transition through hydrogen for zero-emission transportation and industrial decarbonization.”

The company may hold and/or invest the balance of net proceeds not yet allocated in its Treasury portfolio before fully allocating the net proceeds to projects.

Air Products provides industrial gases, related equipment, and applications expertise to customers as well as developing, engineering, building, owning, and operating industrial gas and carbon-capture projects. In fiscal year 2022, it had sales totaling $12.7 billion.