DALLAS, July 26 /PRNewswire-FirstCall/ -- Kimberly-Clark Corporation
(NYSE: KMB) today announced the execution of a $2.1 billion public debt
offering to complete the financing of its previously announced $2.0 billion
accelerated share repurchase.
The debt offering was comprised of $450 million 3-year floating rate
notes due July 30, 2010, $950 million of 10-year notes due August 1, 2017
and $700 million of 30-year notes due August 1, 2037. The 3-year floating
rate notes were priced at 100 percent of the principal amount and have an
initial coupon of 5.46 percent. The interest rate payable on the notes will
reset on a quarterly basis. The 10-year notes were priced at 99.697 percent
of the principal amount to yield 6.166 percent. The 30-year notes were
priced at 98.946 percent of the principal amount to yield 6.707 percent.
The public offering was underwritten by Citigroup Global Markets Inc.,
Lehman Brothers Inc. and J.P. Morgan Securities Inc.
Proceeds from the sale of the notes will be used to repay $2.0 billion
of short-term borrowings initially used to fund the accelerated share
repurchase program. The remaining proceeds will be used for general
corporate purposes, including the partial refinancing of an August 2007
maturity.
About Kimberly-Clark
Kimberly-Clark and its well-known brands are an indispensable part of
life for people in more than 150 countries. Every day, one in four people
around the world trust K-C's brands to enhance their health, hygiene and
well being -- brands such as Kleenex, Scott, Huggies, Pull-Ups, Kotex and
Depend. To keep up with the latest K-C news and to learn more about the
company's 135-year history of innovation, visit
http://www.kimberly-clark.com.
SOURCE Kimberly-Clark Corporation
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Related links:
http://www.kimberly-clark.com
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/19991117/KMBLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Media, Dave Dickson, +1-972-281-1481,
ddickson@kcc.com, or Investors, Mike Masseth, +1-972-281-1478,
mmasseth@kcc.com, both of Kimberly-Clark Corporation
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