New Issue: Procter & Gamble prices $1 billion 3.1% 10-year notes at Treasuries plus 60 bps

By Aleesia Forni

Virginia Beach, Va., Aug. 8 - The Procter & Gamble Co. priced $1 billion of 3.1% 10-year notes (Aa3/AA-) at a spread of Treasuries plus 60 basis points, according to a syndicate source and an FWP filing with the Securities and Exchange Commission.

The notes priced at the tight end of the Treasuries plus 65 bps area talk.

Procter & Gamble sold the notes at 99.353 to yield 3.176%.

Citigroup Global Markets Inc., Goldman Sachs & Co. and J.P. Morgan Securities LLC are the joint bookrunners.

Proceeds will be used for general corporate purposes.

Procter & Gamble is a Cincinnati-based consumer products company.

Issuer:	The Procter & Gamble Co.
Amount:	$1 billion
Description:	Notes
Maturity:	Aug. 15, 2023
Joint bookrunners	:	Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC
Senior co-managers:	Barclays, Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., Mitsubishi UFJ Securities (USA), Inc., Morgan Stanley & Co. LLC, RBC Capital Markets LLC
Co-managers:	Fifth Third Securities, Inc., BofA Merrill Lynch, RBS Securities Inc., Williams Capital Group, LP
Coupon:	3.1%
Price:	99.353
Yield:	3.176%
Spread:	Treasuries plus 60 bps
Make-whole call:	Treasuries plus 10 bps
Trade date:	Aug. 8
Settlement date:	Aug. 13
Ratings:	Moody's: Aa3
	Standard & Poor's: AA-
Distribution:	SEC registered
Price talk:	Treasuries plus 65 bps area

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.