Estee Lauder to price fixed-rate senior notes in three tranches

By Devika Patel

Knoxville, Tenn., Nov. 19 – Estee Lauder Cos. Inc. intends to sell dollar-denominated fixed-rate senior notes in three parts due 2024, 2029 and 2049, according to a 424B5 filed with the Securities and Exchange Commission.

The notes will have a make-whole call and then a par call.

Bookrunners are BofA Securities, Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, BNP Paribas Securities Corp. and MUFG.

Proceeds will be used for general corporate purposes, including funding the company’s planned acquisition of Have & Be Co. Ltd. and refinancing its $500 million of 1.8% senior notes due Feb. 7, 2020.

New York-based Estee Lauder is a manufacturer and marketer of skin care, makeup, fragrance and hair care products.

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