Airgas, Inc.
259 N. Radnor-Chester Road
Suite 100
Radnor, PA 19087-5283
www.airgas.com
AIRGAS NEWS RELEASE
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Exhibit 99.1
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Investor Contact: Media Contact:
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Melissa Nigro (610) 902-6206 James Ely (610) 902-6010
melissa.nigro@airgas.com jim.ely@airgas.com
For release: IMMEDIATELY
AIRGAS COMPLETES SECURITIES OFFERING
RADNOR, PA - 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.
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