Published on 11/8/2007 in the Prospect News Investment Grade Daily.
New Issue: Procter & Gamble prices $50 million in floating-rate notes due 2057 at Libor minus 30 bps
By Sheri Kasprzak
New York, Nov. 8 - Procter & Gamble Co. Thursday priced $50 million in senior floating-rate notes, a source familiar with the deal said.
The notes, due Nov. 9, 2057, priced at par and bear interest at three-month Libor minus 30 basis points.
They are callable at 105 on Nov. 9, 2037, declining to par in 2047.
There are puts annually at 98 from Nov. 9, 2008 to Nov. 9, 2012, at 99 on Nov. 9, 2013 and then annually to Nov. 9, 2017, and every three years at par starting Nov. 9, 2018.
UBS Investment Bank is the sole bookrunner.
Issuer: | Procter & Gamble Co.
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Issue: | Senior floating-rate notes
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Amount: | $50 million
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Maturity: | Nov. 9, 2057
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Coupon: | Libor minus 30 bps
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Price: | Par
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Call: | Nov. 9, 2037 onwards at 105, declining to par in 2047
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Put: | Nov. 9, 2008 at 98 and then annually to Nov. 9, 2012; Nov. 9, 2013 at 99 and then annually to Nov. 9, 2017, then Nov. 9, 2018 at par and every three years
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Trade date: | Nov. 8
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Settlement date: | Nov. 9
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Bookrunner: | UBS Investment Bank
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