THE Estée Lauder Companies Inc. (NYSE:EL) has announced the offering and pricing of $600 million aggregate principal amount of 1.950% Senior Notes due 2031.
The offering was made pursuant to an effective registration statement filed by The Estée Lauder Companies Inc. with the Securities and Exchange Commission and effective as of May 21, 2018.
The closing of the offering is expected to occur on or about March 4, 2021.
The Company intends to use the net proceeds of the offering for general corporate purposes, which may include funding a portion of the purchase price to increase its investment in DECIEM Beauty Group Inc., operating expenses, working capital, capital expenditures and redemption and repayment of short-term or long-term borrowings, including refinancing the 1.700% Senior Notes due May 10, 2021. Pending any specific application, the Company may initially invest funds in short-term marketable securities.
BofA Securities, Inc., BNP Paribas Securities Corp., Goldman Sachs & Co. LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and MUFG Securities Americas Inc. are the joint book-running managers for the offering. Copies of the prospectus supplement and accompanying prospectus may be obtained, when available, by contacting BofA Securities, Inc., NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, North Carolina 28255-0001,
– Mar. 3, 2021 @ 8:42 GMT |