Mergers & Acquisitions ·
Kimberly-Clark amends Kenvue notes covenants ahead of $7B acquisition exchange offer
KVUEKenvue Inc.
Kenvue Inc. entered into a Third Supplemental Indenture to amend the restrictive covenants, events of default, and SEC reporting requirements for its existing senior notes. These amendments were solicited by Kimberly-Clark Corporation on behalf of Kenvue in connection with an ongoing exchange offer allowing holders to swap up to $7 billion of Kenvue debt for new Kimberly-Clark notes and cash. The changes become operative upon the settlement of the exchange offers, which is expected to occur promptly following expiration and around the closing date of Kimberly-Clark's acquisition of Kenvue. Kenvue Inc. operates in the consumer health sector, manufacturing over-the-counter medicines, personal care products, and baby care items.