Estée Lauder prices $2.0B senior notes offering in three tranches

ESTEE LAUDER COMPANIES INC

$700M 4.375% notes due 2028, $700M 4.650% notes due 2033, $600M 5.150% notes due 2053.
Net proceeds for general corporate purposes: working capital, capex, and commercial paper repayment.
Closing expected May 12, 2023; notes are senior unsecured obligations ranking equally with other senior debt.
Make-whole redemption provisions apply prior to specific dates (e.g., one month before maturity for 2028 notes).

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ESTEE LAUDER COMPANIES INC entered into Indenture with U.S. Bank Trust National Association valued at $700,000,000 aggregate principal amount of its 4.375% Senior Notes due 2028, $700,000,000 aggregate (effective 2023-05-12).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust National Association
Value: $700,000,000 aggregate principal amount of its 4.375% Senior Notes due 2028, $700,000,000 aggregate
Effective: 2023-05-12

Exact text from the filing

On May 12, 2023, The Estée Lauder Companies Inc. (the “Company”) completed a public offering of $700,000,000 aggregate principal amount of its 4.375% Senior Notes due 2028 (the “2028 Notes”), $700,000,000 aggregate principal amount of its 4.650% Senior Notes due 2033 (the “2033 Notes”) and $600,000,000 aggregate principal amount of its 5.150% Senior Notes due 2053 (the “2053 Notes” and, together with the 2028 Notes and the 2033 Notes, the “Notes”).

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Source: SEC EDGAR

accession 0001104659-23-059812

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