Procter & Gamble reopens dollars as M&A funders lurk

P&G 230-150
By David Rothnie
28 Jan 2016

Procter & Gamble reopened the dollar bond market on Thursday with a benchmark trade that calmed nerves ahead of a heavy pipeline of M&A related deal flow.

Consumer giant P&G, rated Aa3/AA-, was doing the rounds with a $1bn two part offering of five and 10 year SEC registered notes on Thursday after volatility and earnings blackouts had kept borrowers at bay.

Bookrunners Citi, Goldman Sachs and JP Morgan started the trade with initial ...

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