New Issue: Colgate-Palmolive prices $75.44 million 40-year floaters to yield Libor minus 30 bps

By Andrea Heisinger

Omaha, May 8 - Colgate-Palmolive Co. priced $75.44 million 40-year floating-rate medium-term notes at par to yield three-month Libor minus 30 basis points, according to an FWP filing with the Securities and Exchange Commission.

Interest is payable quarterly.

The notes are callable beginning May 15, 2038 at 105%, then declining by 50 bps annually thereafter.

The notes are putable from May 15, 2009 to 2013 at 98%, from May 15, 2014 to 2018 at 99%, then on May 15, 2019 and on May 15 of each third year thereafter beginning May 15, 2020 at par.

Agents were UBS Investment Bank, Morgan Stanley & Co., Inc., Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Inc. and J.P. Morgan Securities Inc.

Proceeds will be used to retire commercial paper used for general corporate purposes.

The household, health and personal products company is based in New York City.

Issuer:	Colgate-Palmolive Co.
Issue:	Floating-rate medium-term notes
Amount:	$75,436,000
Maturity:	May 15, 2048
Agents:	UBS Investment Bank, Morgan Stanley & Co., Inc., Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Inc., J.P. Morgan Securities Inc.
Coupon:	Three-month Libor minus 30 bps
Price:	Par
Yield:	Three-month Libor minus 30 bps
Call option:	Beginning May 15, 2038 at 105%, then declining by 50 bps annually thereafter
Put option:	From May 15, 2009 to 2013 at 98%, from May 15, 2014 to 2018 at 99%, then on May 15, 2019 and on May 15 of each third year thereafter beginning May 15, 2020 at par
Trade date:	May 7
Settlement date:	May 14

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