By Andrea Heisinger
New York, April 29 - Colgate-Palmolive Co. priced $500 million of medium-term notes (Aa3/AA-/AA-) in two parts on Friday, an informed source said.
The $250 million of 1.25% three-year notes priced at 99.854 to yield 1.3% with a spread of Treasuries plus 30 basis points. This was in line with talk in the 30 bps area.
A $250 million tranche of 2.625% six-year notes sold at 99.56 to yield 2.705% with a spread of Treasuries plus 77 bps. The notes were priced at the tight end of guidance in the 80 bps area.
Bookrunners for the three-year piece were BNP Paribas Securities Corp., BNY Mellon Capital Markets LLC, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc. and Merrill Lynch. Those for the six-year tranche were Citigroup, Goldman Sachs & Co., J.P. Morgan Securities LLC, Merrill Lynch, Morgan Stanley & Co., Inc. and RBS Securities Inc.
The co-manager for both tranches was Williams Capital Group LP.
Proceeds are being used to retire commercial paper issued by the company for general corporate purposes.
The consumer products company is based in New York City.
| Issuer: | Colgate-Palmolive Co.
|
| Issue: | Medium-term notes
|
| Amount: | $500 million
|
| Trade date: | April 29
|
| Settlement date: | May 4
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Fitch: AA-
|
|
|
| Three-year notes
|
| Amount: | $250 million
|
| Maturity: | May 1, 2014
|
| Bookrunners: | BNP Paribas Securities Corp., BNY Mellon Capital Markets LLC, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., Merrill Lynch
|
| Co-manager: | Williams Capital Group LP
|
| Coupon: | 1.25%
|
| Price: | 99.854
|
| Yield: | 1.3%
|
| Spread: | Treasuries plus 30 bps
|
| Call: | Non-callable
|
| Price talk: | 30 bps area
|
|
|
| Six-year notes
|
| Amount: | $250 million
|
| Maturity: | May 1, 2017
|
| Bookrunners: | Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, Merrill Lynch, Morgan Stanley & Co., Inc., RBS Securities Inc.
|
| Co-manager: | Williams Capital Group LP
|
| Coupon: | 2.625%
|
| Price: | 99.56
|
| Yield: | 2.705%
|
| Spread: | Treasuries plus 77 bps
|
| Call: | Non-callable
|
| Price talk: | 80 bps area
|
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