Airgas Completes Securities Offering

by C-BW@CLARI.NET (AIRGAS VIA BIZWIRE) on 2004-03-03 17:10:26

RADNOR, Pa.--(BUSINESS WIRE)--March 3, 2004--Airgas, Inc. (NYSE:
ARG) today announced that it priced its senior subordinated notes
offering. Airgas will sell $150,000,000 of its 6.25% senior
subordinated notes due 2014. Net proceeds from the offering will be
used to redeem in their entirety the $75 million in 7.14% medium term
notes due this month and reduce the outstanding balance under Airgas'
existing revolving credit facility. The transaction is expected to
close March 8, 2004.
The notes are being sold in the United States to qualified
institutional buyers in reliance on Rule 144A, and outside the United
States in compliance with Regulation S, under the Securities Act of
1933, as amended. These notes have not been registered under the
Securities Act of 1933, as amended, or any state securities laws and
may not be offered or sold in the United States absent registration or
an applicable exemption from registration requirements.

About Airgas, Inc.

Airgas, Inc. (NYSE: ARG) is the largest U.S. distributor of
industrial, medical and specialty gases, welding, safety and related
products. Its integrated network of nearly 800 locations includes
branches, retail stores, gas fill plants, specialty gas labs,
production facilities and distribution centers. Airgas also
distributes its products and services through eBusiness, catalog and
telesales channels. Its national scale and strong local presence offer
a competitive edge to its diversified customer base.

Forward-Looking Statement

This press release may contain statements that are
forward-looking, as that term is defined by the Private Securities
Litigation Reform Act of 1995 or by the Securities and Exchange
Commission in its rules, regulations and releases. These statements
include, but are not limited to, statements regarding: the Company's
intent to redeem a medium term note and reduce borrowings under the
revolving credit facility; and the expectation that the transaction
will close March 8, 2004. Airgas intends that such forward-looking
statements be subject to the safe harbors created thereby. All
forward-looking statements are based on current expectations regarding
important risk factors and should not be regarded as a representation
by the Company or any other person that the results expressed therein
will be achieved. Important factors that could cause actual results to
differ materially from those contained in any forward-looking
statement include general economic conditions and other factors
described in the Company's reports, including Form 10-K dated March
31, 2003 and Forms 10-Q dated June 30, 2003, September 30, 2003 and
December 31, 2003, filed by the Company with the Securities and
Exchange Commission.