The bond offerings totalled $600m aggregate principal amount of US dollar-denominated fixed-rate notes and €700m aggregate principal amount of euro-denominated fixed-rate notes.

Seifi Ghasemi, Chairman, President and CEO, said sustainability is key to its growth strategy.

He said, “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 US 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 decarbonisation.”

Pending full allocation of the net proceeds to eligible projects, Air Products may hold and/or invest the balance of such net proceeds not yet allocated, in the company’s discretion, in its Treasury portfolio (in cash, cash equivalents, money market funds) in line with its Treasury policies, or use them to repay a portion of outstanding indebtedness.

Morningstar Sustainalytics, a leading global provider of environmental, social, and governance (ESG) research and ratings, has completed and published a Second Party Opinion (SPO) on Air Products’ green finance framework.

The firm reviewed Air Products’ green finance framework and determined that the planned use of proceeds is consistent with Air Products’ sustainability strategy. Sustainalytics’ SPO offers investors additional insight into the alignment of Air Products’ green finance framework with the Green Bond Principles.

Air Products will publish annual updates on the allocation of the proceeds until the proceeds have been fully allocated to projects meeting the eligibility criteria.

Air Products and Mabanaft, through its subsidiary Oiltanking Deutchland, revealed intentions last November to build ‘Germany’s first’ large-scale green energy import terminal in the Port of Hamburg to provide the country with hydrogen.

Under a joint development agreement, revealed today (November 17), the companies will look to facilitate the import of green ammonia from large-scale green hydrogen production facilities operated by Air Products and its partners around the world.

Read more:  Air Products, Mabanaft unveil plans for large-scale green hydrogen imports at Port of Hamburg