By Andrea Heisinger
Omaha, Feb. 12 - Procter & Gamble International Funding SCA priced $3 billion of floating-rate notes (Aa3/AA-) on Tuesday in two tranches, an informed source said.
A $1.5 billion tranche of one-year notes priced at par to yield three-month Libor plus 7 basis points. They priced at the tight end of talk, which was Libor plus 7 to 9 bps, the source said.
A $1.5 billion tranche of 18-month notes priced at par to yield three-month Libor plus 22 bps. They came slightly tighter than talk, which was Libor plus the 23 bps area.
Bookrunners were Citigroup Global Markets Inc., Goldman Sachs & Co. and Merrill Lynch, Pierce, Fenner & Smith Inc.
Proceeds will be used for general corporate purposes and to refinance certain outstanding borrowings under the company's short-term commercial paper program.
The branch of consumer products company Procter & Gamble Co. is based in Cincinnati.
| Issuer: | Procter & Gamble International Funding SCA
|
| Issue: | Floating-rate notes
|
| Amount: | $3 billion
|
| Bookrunners: | Citigroup Global Markets Inc., Goldman Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith Inc.
|
| Trade date: | Feb. 12
|
| Settlement date: | Feb. 19
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
|
|
| One-year tranche
|
| Amount: | $1.5 billion
|
| Maturity: | Feb. 19, 2009
|
| Coupon: | Three-month Libor plus 7 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 7 bps
|
| Call: | Non-callable
|
| Price talk: | Libor plus 7 to 9 bps
|
|
|
| 18-month tranche
|
| Amount: | $1.5 billion
|
| Maturity: | Aug. 19, 2009
|
| Coupon: | Three-month Libor plus 22 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 22 bps
|
| Call: | Non-callable
|
| Price talk: | Libor plus 23 bps area
|
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