Estee Lauder offers 10-year notes at 80 bps area over Treasuries

By Marisa Wong and Cristal Cody

Los Angeles, March 1 – Estee Lauder Cos. Inc. plans to price fixed-rate senior notes due March 15, 2031, according to a 424B5 filing with the Securities and Exchange Commission.

The notes are talked to yield in the 80 basis points area over Treasuries, according to a market source.

BofA Securities, Inc., BNP Paribas Securities Corp., Goldman Sachs & Co. LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and MUFG are the joint bookrunners.

Proceeds will be used for general corporate purposes, which may include, among other things, refinancing the company’s 1.7% senior notes due May 10, 2021.

The skin care, makeup, fragrance and hair care product manufacturer is based in New York.

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