New Issue: Procter & Gamble prices $82.5 million 50-year floaters at Libor minus 30 bps

By Andrea Heisinger

New York, Sept. 5 - The Procter & Gamble Co. priced $82.5 million of 50-year floating-rate notes Friday at par with a coupon of three-month Libor minus 30 basis points, an informed source said.

The notes are putable on Sept. 15, 2009, thereafter annually on Sept. 15 until 2019 and then every third year on Sept. 15.

The notes are callable on or after Sept. 15, 2038.

Bookrunners were Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Inc., Morgan Stanley & Co., Inc., and UBS Investment Bank.

The consumer products company is based in Cincinnati.

Issuer:	The Procter & Gamble Co.
Issue:	Floating-rate notes
Amount:	$82.5 million
Maturity:	Sept. 15, 2058
Bookrunners:	Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Inc., Morgan Stanley & Co., Inc., UBS Investment Bank
Coupon:	Three-month Libor minus 30 bps
Price:	Par
Call:	On or after Sept. 15, 2038
Put:	On Sept. 15, 2009 and annually thereafter until 2019, then every third year on Sept. 15
Trade date:	Sept. 5
Settlement date:	Sept. 10

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