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Form 8-K · Current Report · Filed 2024-03-28

Air Products and Chemicals Enters New Credit Agreements

On March 28, 2024, Air Products and Chemicals, Inc.

Filer
Air Products and Chemicals Inc. APD · NYSE
Filed
Accession
0001193125-24-080706
CIK
0000002969
Signal
Medium impactBasic Materials

Details

entered into a five-year $3.0 billion revolving credit agreement and a 364-day $500 million revolving credit agreement with a syndicate of banks. These Credit Agreements replace the Company's existing $2.75 billion revolving credit agreement and will provide a source of liquidity for the Company and support its commercial paper program.

Items reported

Item 1.01

Entry into a Material Definitive Agreement

Financial Instrument Agreement
Item 2.03

Creation of a Direct Financial Obligation

Credit Facility Entered New Debt Issued

Market reaction

Close before filing

$243.10

Next session

+0.1%

Since filing

+21.3%

Latest close

$294.89

What happened, not what will happen — closing prices around the filing date.

About Air Products and Chemicals Inc.

Air Products and Chemicals Inc. is a prominent player in the industrial gases sector, providing essential products that serve a myriad of industries worldwide. This global entity specializes in offering atmospheric gases, process, and specialty gases, equipment, and related services to a diverse range of clients, including those in energy, transportation, and technology sectors. Notably, Air Products is a leader in supplying hydrogen and helium solutions, which are critical for refining, aerospace, and electronics manufacturing. The company's liquid hydrogen production plays a significant role in advancing clean energy solutions, such as hydrogen fuel cells for vehicles. Founded in 1940 and headquartered in Allentown, Pennsylvania, Air Products maintains a significant presence in over 50 countries. Its commitment to sustainability and innovation makes it a vital contributor to the global shift towards greener industrial processes and cleaner energy solutions. By maintaining a robust infrastructure of production and distribution, Air Products ensures the secure and efficient delivery of vital industrial gases, underscoring its critical role in numerous sectors that depend on reliable and sustainable supply chains.

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