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PROCTER & GAMBLE Co 8-K Report, Corporate Update (May 7, 2009)

Reports
Other Events·Exhibits & Filings
Filing Date
Filed May 7, 2009
Period End
May 7, 2009
Security
PG
In the record · 2016–202610-K1210-Q328-K225

PG filed 12 annual reports (10-K), 32 quarterly reports (10-Q) and 225 current reports (8-K) between 2016 and 2026.

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01—Abstract

Summary

Summary of the 8-K filed May 7, 2009. Cited figures are marked; the original filing is the authoritative source.

Procter & Gamble (PG) announced on May 7, 2009, through its wholly-owned finance subsidiary, PG International Funding SCA, the successful closing of a $2 billiona public offering of Floating Rate Notes due 2010.

These notes are fully and unconditionally guaranteed by the parent company, The Procter & Gamble Company, providing investors with a direct credit risk associated with P&G. The offering was made under the Company's existing shelf registration statement, indicating established access to capital markets. This offering demonstrates P&G's ongoing strategy to manage its debt obligations and capital structure.

The floating rate nature of the notes suggests an intent to mitigate interest rate risk in the prevailing economic environment of May 2009. Investors should note the maturity in 2010, implying a short-term financing need or strategy. The filing also includes legal opinions from various counsel, underscoring the due diligence and legal compliance associated with this significant debt issuance.

02—Key points

Key Highlights

  1. Procter & Gamble's finance subsidiary, PG International Funding SCA, closed a $2 billion public offering of Floating Rate Notes due 2010.
  2. The notes are fully and unconditionally guaranteed by The Procter & Gamble Company.
  3. The offering was conducted under the Company's existing shelf registration statement (Registration No. 333-145938).
  4. The notes carry a floating interest rate, suggesting a strategy to manage interest rate exposure.
  5. The issuance represents a short-term debt financing with a maturity in 2010.
  6. The filing includes various legal opinions and consents, confirming regulatory compliance.

03—Questions

Frequently Asked Questions

  1. What is the total amount of the debt offering?

    The total aggregate principal amount of the Floating Rate Notes offered was $2,000,000,000 (or $2 billion).

  2. Who is issuing these notes, and who guarantees them?

    The notes were issued by PG International Funding SCA, a wholly-owned finance subsidiary of Procter & Gamble. The Procter & Gamble Company fully and unconditionally guarantees these notes.

  3. What is the maturity date of these notes?

    The notes are due in 2010.

  4. Why would P&G issue floating rate notes?

    Issuing floating rate notes can be a strategy to benefit from potentially falling interest rates or to hedge against rising rates, depending on the company's outlook and market conditions at the time of issuance. In May 2009, this could have been a defensive move to manage interest expense uncertainty.

04—Continue

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