Summary by Futu AI
The Procter & Gamble Company (P&G) has announced the issuance of $1 billion in debt securities, divided equally into two series of notes. The first series, $500 million 4.150% Notes, will mature on October 24, 2029, and the second series, $500 million 4.550% Notes, will mature on October 24, 2034. Interest on these notes will be payable semiannually, with the first payment due on April 24, 2025, and interest accruing from October 24, 2024. P&G may redeem the notes at any time at specified redemption prices. The offering is facilitated by joint book-running managers Deutsche Bank Securities, Goldman Sachs & Co. LLC, and Morgan Stanley, along with several co-managers. The notes are unsecured and rank equally with P&G's other unsecured and unsubordinated indebtedness. The proceeds from the issuance are intended for general corporate purposes. The sale of the notes is expected to be completed on or about October 24, 2024.