By Andrea Heisinger
New York, Nov. 3 - Colgate-Palmolive Co. sold $1 billion of notes (Aa3/AA-/AA-) in three tranches on Thursday, an informed source said.
A $300 million tranche of 0.6% three-year notes was priced at 99.621 to yield 0.727% with a spread of Treasuries plus 35 basis points. There is a make-whole call at Treasuries plus 5 bps.
The $400 million of 1.3% five-year paper sold at 99.462 to yield 1.408% with a spread of Treasuries plus 50 bps. The tranche has a make-whole call at 7.5 bps over Treasuries.
Finally, there was a $300 million tranche of 2.45% 10-year notes sold at 98.554 to yield 2.615% with a spread of Treasuries plus 55 bps. The notes have a make-whole call at 10 bps over Treasuries.
Bookrunners for the three-year notes were Goldman Sachs & Co., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC. Co-managers were Bank of America Merrill Lynch, BNP Paribas Securities Corp., BNY Mellon Capital Markets LLC and Williams Capital Group LP.
Those for the five-year notes were BNP Paribas, Citigroup Global Markets Inc., HSBC and JPMorgan. Co-managers were Barclays Capital Inc., Goldman Sachs, Morgan Stanley, RBS Securities Inc. and Wells Fargo Securities LLC.
Bookrunners for the 10-year tranche were Citigroup, Goldman Sachs, JPMorgan and Morgan Stanley. Co-managers were Bank of America, BNP Paribas, HSBC, RBS and Williams Capital.
The company last sold $500 million of notes in two parts on April 29, 2011, including 1.25% three-year notes at 30 bps over Treasuries.
The consumer products company is based in New York City.
| Issuer: | Colgate-Palmolive Co.
|
| Issue: | Senior notes
|
| Amount: | $1 billion
|
| Trade date: | Nov. 3
|
| Settlement date: | Nov. 8
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Fitch: AA-
|
|
|
| Three-year notes
|
| Amount: | $300 million
|
| Maturity: | Nov. 15, 2014
|
| Bookrunners: | Goldman Sachs & Co., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC
|
| Co-managers: | Bank of America Merrill Lynch, BNP Paribas Securities Corp., BNY Mellon Capital Markets LLC, Williams Capital Group LP
|
| Coupon: | 0.6%
|
| Price: | 99.621
|
| Yield: | 0.727%
|
| Spread: | Treasuries plus 35 bps
|
| Call: | Make-whole at Treasuries plus 5 bps
|
|
|
| Five-year notes
|
| Amount: | $400 million
|
| Maturity: | Jan. 15, 2017
|
| Bookrunners: | BNP Paribas, Citigroup Global Markets Inc., HSBC, JPMorgan
|
| Co-managers: | Barclays Capital Inc., Goldman Sachs, Morgan Stanley, RBS Securities Inc., Wells Fargo Securities LLC
|
| Coupon: | 1.3%
|
| Price: | 99.462
|
| Yield: | 1.408%
|
| Spread: | Treasuries plus 50 bps
|
| Call: | Make-whole at Treasuries plus 7.5 bps
|
|
|
| 10-year notes
|
| Amount: | $300 million
|
| Maturity: | Nov. 15, 2021
|
| Bookrunners: | Citigroup, Goldman Sachs, JPMorgan, Morgan Stanley
|
| Co-managers: | Bank of America, BNP Paribas, HSBC, RBS, Williams Capital
|
| Coupon: | 2.45%
|
| Price: | 98.554
|
| Yield: | 2.615%
|
| Spread: | Treasuries plus 55 bps
|
| Call: | Make-whole at Treasuries plus 10 bps
|
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