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Kimberly-Clark Corporation Announces Pricing of $4.9 Billion Private Offering of Senior Notes

KMB
  • Kimberly-Corp priced a private offering of senior unsecured notes totaling $4.9 billion.
  • The offering consists of five tranches: $750 million at 5.100% due 2028, $1 billion at 5.300% due 2029, $1.25 billion at 5.450% due 2031, $750 million at 5.650% due 2034, & $1.15 billion at 5.800% due 2036.
  • The closing of the offering is expected on October 29, 2026, subject to customary conditions.
  • Proceeds will fund the cash consideration for the proposed acquisition of Kenvue Inc., which is expected to close in Q4 2026, along with related fees & expenses.
  • Remaining net proceeds will be used for general corporate purposes.
  • The offering is not conditioned on the consummation of the Kenvue acquisition.
  • If the acquisition is not completed by the specified outside date (May 31, 2027, or later) or if Kimberly-Clark notifies the trustee it will not pursue the deal, all notes must be redeemed at 101% of principal plus accrued interest.
  • On September 28, 2026, Kimberly-Clark commenced exchange offers & consent solicitations for Kenvue's existing senior notes.
  • If exchange offers are withdrawn or not completed within four business days after expiration, the notes will be guaranteed by Kenvue on an unsubordinated unsecured basis.
  • The notes were offered to qualified institutional buyers under Rule 144A & to non-U.S. persons under Regulation S, with no registration under the U.S. Securities Act.
  • The press release does not constitute an offer to sell or purchase the notes.