Colgate-Palmolive plans bond offering of US$1B in notes ranging from three-, five- and ten-year debentures; proceeds may go to repaying debt
November 3, 2011
(Industry Intelligence Inc.)
– Colgate-Palmolive Co. is planning a bond offering of US$1 billion in three-, five-, and ten-year notes, a person knowledgeable of the transaction said, Bloomberg reported Nov. 3.
About $300 million of each three- and ten-year notes as well as $400 million of five-year notes will be offered.
According to the source, BNP Paribas SA, Citigroup Inc., Goldman Sachs Group Inc., HSBC Holdings Plc, JPMorgan Chase & Co., and Morgan Stanley will manage the offer.
For the second time this year the company is tapping into the corporate bond market, which is seeing borrowing costs plummet for investment-grade companies due to a rise in U.S. investor confidence.
The primary source of this article is Bloomberg, New York, on Nov. 3, 2011.