Estée Lauder issues $650M 5.000% Senior Notes due 2034; proceeds for DECIEM buyout

ESTEE LAUDER COMPANIES INC

$650M aggregate principal of 5.000% Senior Notes due Feb 14, 2034; interest payable semi-annually from Aug 14, 2024.
Notes priced at 99.239% of principal to underwriters, 99.689% to public; net proceeds for general corporate purposes.
Proceeds will partially fund the purchase of remaining interest in DECIEM, plus working capital and debt repayment.
Closing expected Feb 14, 2024; BofA, Goldman Sachs, MUFG, BNP Paribas, Citi, J.P. Morgan as joint book-runners.
Notes are senior unsecured, rank equally with other senior debt; subject to custom covenants and change-of-control repurchase at 101%.

Key facts

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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 $650,000,000 aggregate principal amount (effective 2024-02-14).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust National Association
Value: $650,000,000 aggregate principal amount
Effective: 2024-02-14

Exact text from the filing

On February 14, 2024, The Estée Lauder Companies Inc. (the “Company”) completed a public offering of $650,000,000 aggregate principal amount of its 5.000% Senior Notes due 2034 (the “Notes”). The Notes are governed by the Indenture, dated as of November 5, 1999 (the “Indenture”), between the Company and U.S. Bank Trust National Association

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Source: SEC EDGAR

accession 0001104659-24-023831

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