What Linde (LIN)’s €1.75 Billion Debt Offering Means for Shareholders

• On November 20, 2025, Linde plc completed a multi-tranche €1.75 billion debt offering, including €600 million floating rate notes due 2027, €650 million 3.125% notes due 2032, and €500 million 3.750% notes due 2038, with proceeds allocated for general corporate purposes and listing on the Luxembourg Stock Exchange.
• This significant financing activity reflects Linde's continued access to European debt markets and highlights its ability to fund long-term growth initiatives and investment commitments.
• Given the scale of this debt issuance to support future projects, we'll explore its implications for Linde's investment narrative and growth outlook.

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Linde Investment Narrative Recap

To be a Linde shareholder, you need to believe in the company’s ability to grow through global demand for industrial and specialty gases, while managing structural pressures in key markets like Europe. The recent €1.75 billion debt offering strengthens liquidity but does not materially alter the short-term catalysts or most significant risk, which remains the exposure to weakness in European industrial activity.

One relevant recent announcement is Linde’s long-term supply contract for a low-carbon ammonia project in Louisiana. This contract underlines an ongoing catalyst: the shift toward clean energy projects underpinned by large, fixed-fee agreements, which could offer steady revenue streams if project execution goes as planned.

Yet, in contrast to these promising growth initiatives, investors should be aware of the potential impact if persistent deindustrialization in Europe results in...

Read the full narrative on Linde (it's free!)

Linde's outlook anticipates $38.9 billion in revenue and $9.1 billion in earnings by 2028. This scenario assumes annual revenue growth of 5.4% and a $2.4 billion increase in earnings from the current level of $6.7 billion.

Uncover how Linde's forecasts yield a $505.61 fair value, a 23% upside to its current price.

Exploring Other Perspectives

Six fair value estimates from the Simply Wall St Community range from US$300.90 to US$505.61 per share. While community opinions differ greatly, the risk of declining European industrial demand remains a key issue for many weighing Linde’s outlook.

Explore 6 other fair value estimates on Linde - why the stock might be worth as much as 23% more than the current price!

Build Your Own Linde Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Linde research is our analysis highlighting 3 key rewards and 1 important warning sign that could impact your investment decision.
• Our free Linde research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Linde's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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