Kimberly-Clark Corporation has completed its previously announced private exchange offers for all outstanding senior notes originally issued by Kenvue Inc. The transaction was part of the integration following Kimberly-Clark's acquisition of Kenvue. In exchange for the tendered Kenvue notes, Kimberly-Clark issued a substantial series of its own new senior notes.
Key Details
- Transaction Completion: The exchange offers and consent solicitations for Kenvue's $7.0 billion in aggregate principal senior notes were settled on November 4, 2026.
- New Debt Issuance: Kimberly-Clark issued approximately $6.38 billion in aggregate principal amount of new Kimberly-Clark senior notes across seven series with maturities ranging from 2028 to 2063.
- Note Terms: The newly issued Kimberly-Clark notes feature the same interest rates, interest payment dates, and maturity dates as the corresponding Kenvue notes they replaced. The tendered Kenvue notes have been canceled.
- Remaining Kenvue Debt: Following the exchange, approximately $624 million in aggregate principal amount of the original Kenvue notes remain outstanding as obligations of Kenvue LLC, a wholly owned subsidiary of Kimberly-Clark.