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Linde launches bond

Linde launches bond

MUNICH, Germany - Linde AG has successfully placed a bond for 1 billion euros to help finance its acquisition of Lincare, the company announced Sept. 5.

The bond, which drew “huge demand” according to a press release, has a maturity of eight years and an interest rate of 1.75%.

"It is crucial to be able to act swiftly in a volatile market climate," stated Georg Denoke, a member of the executive board and CFO of Linde AG, in the release. "We were keen to quickly replace a substantial part of the acquisition loan with long-term capital market liabilities."

Denoke credited the successful placement of the bond to Linde's “excellent reputation” among investors.

Linde purchased Clearwater, Fla.-based Lincare for $4.6 billion in a deal completed Aug. 14. Under Linde's ownership, Lincare has stated it plans to reduce its 1,000 locations by around 100 before July 2013 and ramp up ventures like NR monitoring (in-home testing for anti-coagulant therapy), pulmonary rehab and specialty pharmacy.

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