The Estée Lauder Companies to Issue $600 Million of Senior Notes
May 05 2016 - 5:26PM
Business Wire
The Estée Lauder Companies Inc. (NYSE:EL) today announced the
offering and pricing of $450 million aggregate principal amount of
its 1.700% Senior Notes due 2021 and $150 million aggregate
principal amount of its 4.375% Senior Notes due 2045 (the “2045
Notes”). The offering of the 2045 Notes is a reopening of the
4.375% Senior Notes due 2045 issued on June 4, 2015. Following the
closing of the offering, there will be $450 million of the 2045
Notes outstanding.
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 22,
2015. The closing of the offering is expected to occur on or about
May 10, 2016.
The Company intends to use the net proceeds of the offering for
general corporate purposes, which may include repayment of its
outstanding commercial paper as it matures and other indebtedness,
acquisitions, working capital, capital expenditures and repurchases
of its Class A Common Stock.
J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner &
Smith Incorporated and Mitsubishi UFJ Securities (USA), 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 J.P. Morgan Securities LLC, 383
Madison Avenue, New York, New York 10179, Attn: High Grade
Syndicate Desk, or by telephone at 1-212-834-4533; Merrill Lynch,
Pierce, Fenner & Smith Incorporated, NC1-004-03-43, 200 North
College Street, 3rd Floor, Charlotte, North Carolina 28255-0001,
Attn: Prospectus Department, by telephone at 1-800-294-1322 or by
email at dg.prospectus_requests@baml.com; or Mitsubishi UFJ
Securities (USA), Inc., 1221 Avenue of the Americas, 6th Floor, New
York, New York 10020 or by telephone at 1-877-649-6848.
An electronic copy of the prospectus supplement and accompanying
prospectus will also be available on the website of the Securities
and Exchange Commission at http://www.sec.gov.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the notes, nor shall there be any
sale of these notes 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. A
registration statement relating to the notes became effective on
May 22, 2015, and this offering is being made by means of a
prospectus supplement.
About The Estée Lauder Companies Inc.
The Estée Lauder Companies Inc. is one of the world’s leading
manufacturers and marketers of quality skin care, makeup, fragrance
and hair care products. The Company’s products are sold in over 150
countries and territories under brand names including: Estée
Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, Tommy
Hilfiger, M·A·C, Kiton, La Mer, Bobbi Brown, Donna Karan New York,
DKNY, Aveda, Jo Malone London, Bumble and bumble, Michael Kors,
Darphin, Tom Ford, Smashbox, Ermenegildo Zegna, AERIN, Marni, Tory
Burch, RODIN olio lusso, Le Labo, Editions de Parfums Frédéric
Malle, GLAMGLOW and By Kilian.
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For The Estée Lauder CompaniesInvestor
Relations:Dennis D’Andrea, 212-572-4384orMedia
Relations:Alexandra Trower, 212-572-4430
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