Radnor energy company plans first bond sale since ’04

Airgas Inc. said it will sell $350 million of debt securities, the Radnor company's first bond offering in four years.

The securities will be sold to institutional buyers and will mature in 2018. Proceeds will be used to reduce the company's existing debt.

Bank of America Corp., Goldman Sachs Group Inc., and JPMorgan Chase & Co. are managing the sale.

Airgas last sold bonds in March 2004, according to Bloomberg News.

The company is a distributor of industrial, medical and specialty gases and other industrial products. Its shares were up 83 cents to $61.04 in noon trading on the New York Stock Exchange.