WASHINGTON (dpa-AFX) - Industrial gases company Praxair, Inc. (PX) Wednesday said it has priced $600 million of 2.45% notes due February 15, 2022. The notes are being offered under its universal shelf registration statement filed with the U.S. Securities and Exchange Commission. The offering is led by Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc. and HSBC Securities (USA) Inc. The offering is expected to close on February 6, 2012. The company anticipates using the proceeds of the offering to repay short-term debt, to fund share repurchases under the company's share repurchase program and for general corporate purposes. Prior to their application, the net proceeds may be invested in short-term investments. PX is currently trading at $106.66, up $0.46 or 0.43%, on the NYSE. Over the past year, the stock traded in a range of $88.64 - $111.74.
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