By Aleesia Forni
Virginia Beach, Feb. 26 - Colgate-Palmolive Co. priced an upsized $1 billion issue of five- and 10-year notes (Aa3/AA-/AA-) during Wednesday's session, according to a market source and two separate FWP filings with the Securities and Exchange Commission.
The company sold $500 million of 1.75% notes due 2019 at 99.88 to yield 1.775%, or Treasuries plus 30 basis points.
A $500 million tranche of 3.25% notes due 2024 priced with a spread of 65 bps over Treasuries. Pricing was at 99.397 to yield 3.321%.
Both tranches priced at the tight end of talk.
Bookrunners are Goldman Sachs & Co., Wells Fargo Securities LLC and Citigroup Global Markets Inc.
Proceeds will be used to repay debt and for general corporate purposes, which may include the retirement of commercial paper.
Colgate-Palmolive is a New York City-based consumer products company.
| Issuer: | Colgate-Palmolive Co.
|
| Issue: | Medium-term fixed-rate notes, series H
|
| Amount: | $1 billion, upsized from $800 million
|
| Joint bookrunners: | Goldman Sachs & Co., Wells Fargo Securities LLC, Citigroup Global Markets Inc.
|
| Trade date: | Feb. 26
|
| Settlement date: | March 3
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Fitch: AA-
|
|
|
| Notes due 2019
|
| Amount: | $500 million
|
| Maturity: | March 15, 2019
|
| Coupon: | 1.75%
|
| Price: | 99.88
|
| Yield: | 1.775%
|
| Spread: | Treasuries plus 30 bps
|
| Price talk: | Treasuries plus 35 bps area, tightened from Treasuries plus low 40 bps area
|
| Make-whole call: | Treasuries plus 5 bps
|
|
|
| Notes due 2024
|
| Amount: | $500 million
|
| Maturity: | March 15, 2024
|
| Coupon: | 3.25%
|
| Price: | 99.397
|
| Yield: | 3.321%
|
| Spread: | Treasuries plus 65 bps
|
| Price talk: | Treasuries plus 70 bps area, tightened from Treasuries plus high 70 bps area
|
| Make-whole call: | Treasuries plus 10 bps
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
