Procter & Gamble Prices $4.0 Billion Multi-Tranche Senior Notes Offering
PROCTER & GAMBLE Co
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Filing Summary
PROCTER & GAMBLE Co ($PG) filed Form 424B5 detailing a $4.0B debt offering across four tranches: 5.125% due 2031 ($750M), 5.300% due 2033 ($750M), 5.450% due 2036 ($1.25B), and 5.900% due 2056 ($1.25B). Total net proceeds before expenses are approximately $3.97B.
Comprehensive Analysis
Offering Overview
The Procter & Gamble Company filed a final prospectus supplement (Form 424B5) pursuant to Rule 424(b)(5) under Registration No. 333-299472 covering a multi-tranche registered senior notes offering aggregate principal amount of $4,000,000,000.
Tranche Breakdown
-
$750,000,000 5.125% Notes due October 30, 2031
- Offering Price: 99.965%
- Underwriting Discount: 0.350%
- Net Proceeds (before expenses): $747,112,500
-
$750,000,000 5.300% Notes due October 30, 2033
- Offering Price: 99.954%
- Underwriting Discount: 0.400%
- Net Proceeds (before expenses): $746,655,000
-
$1,250,000,000 5.450% Notes due October 30, 2036
- Offering Price: 99.642%
- Underwriting Discount: 0.450%
- Net Proceeds (before expenses): $1,239,900,000
-
$1,250,000,000 5.900% Notes due October 30, 2056
- Offering Price: 99.860%
- Underwriting Discount: 0.875%
- Net Proceeds (before expenses): $1,237,312,500
Offering Summary Financials
- Total Initial Offering Price: $3,993,167,500
- Total Underwriting Discount: $22,187,500
- Total Proceeds (before expenses): $3,970,980,000
- Interest Payment Dates: Semi-annually on April 30 and October 30, starting April 30, 2027
- Settlement Date: Expected on or about October 30, 2026
Underwriters
- Joint Book-Running Managers: Citigroup, Deutsche Bank Securities, Goldman Sachs & Co. LLC, HSBC, Morgan Stanley
- Co-Managers: BofA Securities, Barclays, BBVA, BNP PARIBAS, RBC Capital Markets, Bank of China, PNC Capital Markets LLC, Siebert Williams Shank, Standard Chartered Bank
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This content is drawn from public SEC filings and may contain errors. It is for informational purposes only and is not investment, legal, or tax advice.
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