Kimberly-Clark Corporation has completed a private offering of $4.9 billion in aggregate principal amount of senior unsecured notes. The net proceeds from this offering are intended to fund the cash consideration for the company's previously announced acquisition of Kenvue Inc., as well as to pay for related fees and expenses.

Key Details

  • Total Offering: $4.9 billion in senior unsecured notes issued on October 29, 2026.
  • Use of Proceeds: To finance the acquisition of Kenvue Inc. The proceeds resulted in the termination of the remaining $3.9 billion commitment under a prior bridge loan facility.
  • Note Tranches: The offering consists of five series of notes with varying maturities and interest rates:
    • $750M of 5.100% Notes due 2028
    • $1.0B of 5.300% Notes due 2029
    • $1.25B of 5.450% Notes due 2031
    • $750M of 5.650% Notes due 2034
    • $1.15B of 5.800% Notes due 2036
  • Special Redemption Clause: The notes are subject to a special mandatory redemption at 101% of the principal amount if the Kenvue acquisition is not consummated by the outside date, which is related to May 31, 2027.