New Issue: Procter & Gamble sells $112.6 million notes due 2064 to yield Libor minus 30 bps

By Aleesia Forni

Virginia Beach, Oct. 29 – Procter & Gamble Co. priced $112,589,000 of floating-rate notes due Nov. 1, 2064 at par to yield Libor minus 30 basis points on Tuesday, according to a 424B5 filed with the Securities and Exchange Commission.

Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, UBS Securities LLC and Wells Fargo Securities LLC were the bookrunners.

The notes are callable in whole or in part beginning 2044 at 105 and at prices declining by 50 bps annually through 2054, when the call price is par until maturity.

The notes are putable in whole or in part from Nov. 1, 2015 to Nov. 1, 2019 at 98, from Nov. 1, 2020 to Nov. 1, 2024 at 99 and on Nov. 1, 2025 and every third year thereafter at par.

Proceeds will be used for general corporate purposes.

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

Issuer:	Procter & Gamble Co.
Amount:	$112,589,000
Description:	Notes
Maturity:	Nov. 1, 2064
Bookrunners:	Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, UBS Securities LLC, Wells Fargo Securities LLC
Coupon:	Libor minus 30 bps
Price:	Par
Yield:	Libor minus 30 bps
Call option:	Beginning 2044 at 105 and at prices declining by 50 bps annually through 2054, when the call price is par until maturity
Put option:	From Nov. 1, 2015 to Nov. 1, 2019 at 98; from Nov. 1, 2020 to Nov. 1, 2024 at 99; and on Nov. 1, 2025 and every third year thereafter at par
Pricing date:	Oct. 28
Settlement date:	Nov. 4

© 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.