Clorox announces redemption of $1.1 billion of notes due 2022, 2024

By William Gullotti

Buffalo, N.Y., May 17 – Clorox Co. issued redemption notices on May 12 for all of its $600 million 3.05% senior notes due Sept. 15, 2022 and $500 million 3.5% senior notes due Dec. 15, 2024, according to an 8-K filing with the Securities and Exchange Commission.

The 2022 notes will be redeemed June 15 at par plus accrued and unpaid interest.

The 2024 notes will be redeemed June 12 at a redemption price equal to the greater of par and the sum of the remaining scheduled payments of principal and interest, discounted at Treasuries plus 20 basis points.

The redemption was funded by the company’s $1.1 billion senior note offering priced May 5.

The manufacturer and marketer of consumer and professional products is based in Oakland, Calif.

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