On June 5, 2025, Linde plc, a leading company in the global industrial gases sector, announced the issuance of Swiss Franc-denominated notes totaling approximately ₣500 million under its European debt issuance programme. This move included two tranches: ₣225 million of 0.6150% Notes due 2029 and ₣275 million of 1.0629% Notes due 2033, reflecting Linde’s strategic intent to optimize its capital structure with long-term, low-cost debt. The transaction was executed under a Subscription Agreement dated June 3, 2025, with prominent financial institutions serving as bookrunners and managers.
The net proceeds from the offering amounted to approximately ₣498.6 million, net of managerial fees, earmarked for general corporate purposes. This infusion of capital bolsters Linde’s financial flexibility to support ongoing investments, debt refinancing, and operational funding.
Contextualizing this debt issuance against Linde’s most recent financial results for the fiscal year ending December 31, 2024, the company reported robust total revenues of \(33.0 billion and a net income of \)6.57 billion, showcasing strong profitability and operational efficiency in this capital-intensive sector. The company’s total liabilities stood at \(40.7 billion, with \)15.34 billion attributable to long-term debt and $6.28 billion in short-term debt.
The newly issued notes feature fixed interest rates of 0.6150% and 1.0629% for the 2029 and 2033 maturities, respectively. These favorable rates indicate prudent debt cost management, likely improving Linde’s debt maturity profile and cost of capital. The notes have been admitted for trading on the SIX Swiss Exchange, enhancing liquidity and access to the European capital markets.
These notes are guaranteed by Linde GmbH and Linde Inc., fully owned subsidiaries, strengthening credit security and investor confidence in this issuance.
This financing event aligns with sector trends where industrial companies actively manage their capital structures amid macroeconomic challenges, including tariff tensions, regulatory changes, and economic uncertainties. Linde’s issuance strategically positions the company to sustain its investment and growth trajectory in a demanding global industrial environment.
From insights drawn from previous earnings calls, Linde’s management has emphasized a disciplined approach to financial management, focusing on sustainable growth, and this new debt issuance exemplifies that approach by enhancing liquidity at attractive borrowing costs.
In sum, this Swiss Franc debt offering significantly reinforces Linde plc’s financial position, providing the company with enhanced capacity to manage future business demands, invest in innovation, and maintain its competitive leadership in the industrial gases sector.
Source document: Linde plc Form 8-K June 5 2025
Tags: LIN, Linde, FY2024, debt issuance, Swiss Franc notes, industrial gases sector