Financing ·
Kimberly-Clark completes $7B exchange of Kenvue notes for new Kimberly-Clark debt
KMBKimberly Clark Corp
Kimberly-Clark completed the exchange of up to $7 billion in aggregate principal amount of Kenvue Notes for new Kimberly-Clark Notes and cash. The transaction involved the assumption of Kenvue's debt obligations following its merger into a Kimberly-Clark subsidiary. Approximately 93% of the tendered notes were accepted, with remaining balances retired. This refinancing aligns Kenvue’s liabilities with Kimberly-Clark’s credit profile while removing restrictive covenants from the indenture. The company operates in the consumer goods industry, manufacturing personal care and health products.