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Estée Lauder prices $1.5B debt offering

The Estée Lauder Cos. Inc. on Feb. 6 announced pricing for its $1.5 billion offering of senior notes.

The notes will be offered in three tranches consisting of $500 million in 1.80% senior notes due 2020, $500 million in 3.15% senior notes due 2027 and $500 million in 4.15% senior notes due 2047.

The offering is expected to close on or around Feb. 9.

Proceeds from the offering will be used to finance the personal products company's general corporate purposes, including repayment of outstanding commercial paper as it matures and refinancing of a $300 million in 5.55% senior notes due May 15.

Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Merrill Lynch Pierce Fenner & Smith Inc., BNP Paribas Securities Corp. and MUFG Securities Americas Inc. are the joint book-running managers for the offering.