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Kenvue Inc., a completely owned subsidiary of Johnson & Johnson (NYSE:JNJ) has priced $7.75B of senior unsecured notes in a collection of eight tranches.
The notes providing comprised as follows: $750M of 5.5% senior notes due 2025, $750M of 5.35% senior notes due 2026, $1B of 5.05% senior notes due 2028, $1B of 5% senior notes due 2030, $1.25B of 4.9% senior notes due 2033, $750M of 5.1% senior notes due 2043, $1.5B of 5.05% senior notes due 2053 and $750M of 5.2% senior notes due 2063.
The issuance of the notes by Kenvue and the Ensures won’t be registered below the Securities Act, or below any U.S. state securities legal guidelines or different jurisdiction.
The notes might be issued to certified institutional consumers and outdoors the US to non-U.S. individuals in reliance on Regulation S below the Securities Act.
Kenvue intends to make use of the proceeds as partial consideration to Johnson & Johnson for the Client Well being Enterprise.
The closing of the providing is just not contingent upon the completion of Johnson & Johnson’s separation of its Client Well being Enterprise, and Johnson & Johnson expects that the providing of the Notes might be accomplished on or about March 22, 2023.
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