Linde Group signs EUR 1.6 billion Forward Start Revolving Credit Facility, further strengthening its liquidity profile until 2013

Wednesday, Jul 01, 2009

The Linde Group announced today that it has signed a two-year euro-denominated forward start revolving credit facility in an amount of EUR 1.6 billion available from 2011 onwards.

The forward start credit facility will be available at the time Linde's existing EUR 2 billion currently undrawn revolving credit facility expires on 3 March 2011. It will be the company's primary liquidity source from banks and is available for general corporate purposes.

The club-deal style transaction received a very good reception. More than 20 of Linde's core national and international relationship banks are participating in the facility. The very good support for the Linde arranged deal allowed a substantial increase of the facility amount to EUR 1.6 billion. The transaction still closed oversubscribed.

"This forward start facility further strengthens the financing flexibility of The Linde Group until 2013 and we highly appreciate the strong support from our banking group," stated CFO Georg Denoke.

Linde's long-term corporate credit rating with Standard & Poor's is BBB+ (positive outlook). The senior unsecured debt rating with Moody's is Baa1.

The Linde Group is a world leading gases and engineering company with almost 52,000 employees working in around 100 countries worldwide. In the 2008 financial year it achieved sales of EUR 12.7 billion. The strategy of The Linde Group is geared towards sustainable earnings-based growth and focuses on the expansion of its international business with forward-looking products and services.

Linde acts responsibly towards its shareholders, business partners, employees, society and the environment - in every one of its business areas, regions and locations across the globe. Linde is committed to technologies and products that unite the goals of customer value and sustainable development.

For more information, see The Linde Group online.

Source: Linde Group