Kimberly-Clark Announces $700 Million Financing

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Jan 27, 2011, 05:15 ET

DALLAS, Jan. 27, 2011 /PRNewswire/ -- Kimberly-Clark Corporation (NYSE: KMB) today announced the pricing of a $700 million senior note offering. Kimberly-Clark intends to use the net proceeds from the offering for general corporate purposes, including but not limited to purchasing shares of company common stock pursuant to publicly announced share repurchase programs, funding of pension plans and redeeming outstanding commercial paper.

The offering was comprised of $250 million of 10–year notes due March 1, 2021, and $450 million of 30–year notes due March 1, 2041. The 10–year notes were priced at 99.148 percent of the principal amount to yield 3.978 percent. The 30–year notes were priced at 99.132 percent of the principal amount to yield 5.358 percent.

The joint book-running managers for the offering are Citigroup Global Markets Inc., Goldman, Sachs & Co., Morgan Stanley & Co. Incorporated and J.P. Morgan Securities LLC.

A copy of the prospectus and related prospectus supplement may be obtained by calling Citigroup Global Markets Inc. toll-free at 1–877–858–5407, Goldman, Sachs & Co. toll-free at 1–866–471–2526, and Morgan Stanley & Co. Incorporated toll-free at 1–866–718–1649.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Kimberly-Clark

Kimberly-Clark and its well-known global brands are an indispensable part of life for people in more than 150 countries. Every day, 1.3 billion people – nearly a quarter of the world's population – trust K-C brands and the solutions they provide to enhance their health, hygiene and well-being. With brands such as Kleenex, Scott, Huggies, Pull-Ups, Kotex and Depend, Kimberly-Clark holds No. 1 or No. 2 share positions in more than 80 countries. To keep up with the latest K-C news and to learn more about the company's 139-year history of innovation, visit www.kimberly-clark.com.

SOURCE Kimberly-Clark Corporation