By Andrea Heisinger
New York, Aug. 9 - Procter & Gamble Co. priced $1 billion of floating-rate notes due Feb. 14, 2014 on Thursday at par to yield Libor minus 10 basis points, a source away from the trade said.
The notes (Aa3/AA-/) are non-callable.
Deutsche Bank Securities Inc., HSBC Securities (USA) LLC and Morgan Stanley & Co. LLC were the bookrunners.
Senior co-managers were Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, Bank of America Merrill Lynch and RBS Securities Inc.
Co-managers were Barclays, Credit Suisse Securities (USA) LLC, Svenska Handelsbanken AB, ING Financial Markets LLC, Mitsubishi UFJ Securities (USA), Inc. and UBS Securities LLC.
Proceeds will be used for general corporate purposes.
The Cincinnati-based consumer products company was last in the market with a $2 billion offering in two tranches on Feb. 1, 2012.
| Issuer: | Procter & Gamble Co.
|
| Issue: | Floating-rate notes
|
| Amount: | $1 billion
|
| Maturity: | Feb. 14, 2014
|
| Bookrunners: | Deutsche Bank Securities Inc., HSBC Securities (USA) LLC, Morgan Stanley & Co. LLC
|
| Senior co-managers: | Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, Bank of America Merrill Lynch, RBS Securities Inc.
|
| Co-managers: | Barclays, Credit Suisse Securities (USA) LLC, Svenska Handelsbanken AB, ING Financial Markets LLC, Mitsubishi UFJ Securities (USA), Inc., UBS Securities LLC
|
| Coupon: | Libor minus 10 bps
|
| Price: | Par
|
| Yield: | Libor minus 10 bps
|
| Call: | Non-callable
|
| Trade date: | Aug. 9
|
| Settlement date: | Aug. 14
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
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