Kimberly-Clark Offers $700 Million In Senior Debt

SAN FRANCISCO -- Kimberly-Clark Corp. said late Thursday it has priced the $700 million in senior notes it plans to offer the debt market. Proceeds from the sale will be used to buy back outstanding shares. The sale includes $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 will carry a 3.978% yield while the 30-year notes will carry a yield of 5.358%. Earlier this week, the household-products company said it plans to buy back $1.5 billion of its stock in 2011. The issue is being jointly managed by Citigroup Global Markets Inc., Goldman Sachs & Co., Morgan Stanley & Co. and J.P. Morgan Securities LLC.
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