By Andrea Heisinger
New York, Feb. 1 - Procter & Gamble Co. priced $2 billion of notes (Aa3/AA-/) in two parts on Wednesday, an informed source said.
The $1 billion of two-year floating-rate notes were priced at par to yield Libor plus 8 basis points.
There was also a $1 billion tranche of 2.3% 10-year paper sold at 99.292 to yield 2.38% with a spread of Treasuries plus 55 bps. The tranche sold at the tight end of talk in the 58 bps area, plus or minus 3 bps.
Citigroup Global Markets Inc., Goldman Sachs & Co. and J.P. Morgan Securities LLC were the bookrunners.
Proceeds will be used for general corporate purposes.
The consumer products company is based in Cincinnati.
| Issuer: | Procter & Gamble Co.
|
| Issue: | Notes
|
| Amount: | $2 billion
|
| Bookrunners: | Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC
|
| Trade date: | Feb. 1
|
| Settlement date: | Feb. 6
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
|
|
| Two-year floaters
|
| Amount: | $1 billion
|
| Maturity: | Feb. 6, 2014
|
| Coupon: | Libor plus 8 bps
|
| Price: | Par
|
| Yield: | Libor plus 8 bps
|
|
|
| 10-year notes
|
| Amount: | $1 billion
|
| Maturity: | Feb. 6, 2022
|
| Coupon: | 2.3%
|
| Price: | 99.292
|
| Yield: | 2.38%
|
| Spread: | Treasuries plus 55 bps
|
| Call: | Make-whole at Treasuries plus 10 bps
|
| Price talk: | 58 bps area, plus or minus 3 bps
|
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