NEW YORK - The Estée Lauder Companies Inc. (NYSE: NYSE:EL), a global leader in prestige beauty, has announced the pricing of $650 million in senior notes with a 5.000% interest rate, maturing in 2034. The closing of this offering is slated for tomorrow.
The transaction is in accordance with the registration statement previously filed with the U.S. Securities and Exchange Commission on May 20, 2021. Estée Lauder plans to allocate the net proceeds for a variety of corporate activities. These may include the acquisition of the outstanding shares of DECIEM, a skincare company, along with general operating expenses, working capital, and capital expenditures. The funds might also be used for the redemption and repayment of existing short-term or long-term debt.
Prior to their specific use, the company may temporarily invest the proceeds in short-term marketable securities. The joint book-running managers for the offering include BofA Securities, Inc., Goldman Sachs & Co (NYSE:GS). LLC, and several other notable financial institutions.
The Estée Lauder Companies Inc. is known for its portfolio of over 25 brands sold in about 150 countries, encompassing a wide range of high-end skincare, makeup, fragrance, and hair care products.
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