Funding
Linde's financing strategy
Linde's financing strategy is to secure long-term committed funding by issuing public notes and bonds as well as commercial paper backed by a syndicated revolving credit facility with no financial covenants.
Financing Tools
Linde Finance B.V. has notes and bonds outstanding that are unconditionally guaranteed by Linde plc and a USD 6.5 bn multicurrency Commercial Paper (CP) Program that is also unconditionally guaranteed by Linde plc.
Linde Finance B.V., along with Linde Inc, Linde plc and Linde GmbH have a USD 5.0 bn syndicated revolving credit facility with no associated financial covenants at their disposal with a final maturity in December 2027, and further a USD 1.5 bn 364-day syndicated revolving credit facility expiring in December 2025. Both credit facilities are currently fully undrawn.
Selected Bonds
| Issuer | Currency | Outstanding Volume in millions | Coupon in % | Maturity | ISIN |
Final Terms |
| Linde Finance B.V. | EUR | 750 | 0.250 | 2027-05-19 |
XS2177021271 |
Download |
| Linde Finance B.V. | EUR | 750 | 1.000 | 2028-04-20 |
XS1397134609 |
Download |
| Linde Finance B.V. | EUR | 750 | 0.550 | 2032-05-19 |
XS2177021602 |
Download |
Euro Commercial Paper Programme
| Issuers: | Linde GmbH, Linde Finance B.V. |
| Guarantor: |
Linde plc |
| Volume: |
USD 6,500,000,000 |
| Applicable law: |
German law |
| Dealers: |
Barclays, BayernLB, Citigroup, Crédit Agricole CIB, Société Générale, TD Securities |
Credit Ratings
Linde Finance B.V. is rated by the rating agencies Moody's and Standard & Poor's (S&P).
Linde Group's current senior credit ratings / issuer ratings:
| Rating Agency |
Long-term |
Short-term |
Outlook |
| Moody's |
A2 |
P-1 |
stable |
| Standard & Poor's |
A |
A-1 |
stable |