Clorox gets $1.1 billion five-year revolver at Libor plus 79.5-150 bps

By Susanna Moon

Chicago, May 9 - Clorox Co. closed a $1.1 billion five-year unsecured revolving credit facility at Libor plus 79.5 basis points to 150 bps. The exact margin depends on the company's credit ratings.

The facility fee is 8 bps to 25 bps.

The company entered into a credit agreement on Friday with JPMorgan Chase Bank, NA, Citibank, NA and Wells Fargo Bank, NA as administrative agents and lenders, according to an 8-K filing with the Securities and Exchange Commission.

J.P. Morgan Securities LLC, Citigroup Global Markets Inc. and Wells Fargo Securities, LLC are the lead arrangers and bookrunners.

Proceeds will be used for general corporate purposes.

In connection with the new revolver, the company terminated its credit agreement with JPMorgan, Citicorp USA, Inc. and Wachovia Bank, NA as administrative agents and lenders.

Clorox is a consumer products company based in Oakland, Calif.

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