Recent Updates — KMB
Kimberly-Clark Corporation completed the sale of $4.9 billion in aggregate principal amount of senior unsecured notes, consisting of tranches maturing in 2028 (5.100%), 2029 (5.300%), 2031 (5.450%), 2034 (5.650%), and 2036 (5.800%). The proceeds, combined with cash on hand and commercial paper borrowings, will fund the cash consideration for its proposed acquisition of Kenvue Inc. Concurrently, Kimberly-Clark terminated the remaining $3.9 billion of commitments under a bridge loan facility previously established to finance the transaction. The company operates in the consumer goods industry, manufacturing personal care and tissue products.
Kimberly-Clark extended the expiration date of its exchange offers for Kenvue notes from October 27, 2026, to November 2, 2026. The company is offering up to $7 billion in new notes to acquire outstanding Kenvue debt as part of a pending acquisition. As of the previous deadline, holders had tendered between 73.9% and 98.5% of various note series. Settlement is expected promptly after the new expiration date. Kimberly-Clark manufactures personal care products including Huggies and Kleenex.
Kimberly-Clark priced a private offering of $4.9 billion in senior unsecured notes across five tranches maturing between 2028 and 2036, with coupon rates ranging from 5.100% to 5.800%. The company intends to use the net proceeds, along with cash on hand and commercial paper borrowings, to fund the cash consideration for its proposed acquisition of Kenvue Inc., expected to close in the fourth quarter of 2026. Closing is anticipated around October 29, 2026. Kimberly-Clark operates in the consumer goods industry, manufacturing personal care and hygiene products.
Kimberly-Clark provided estimated preliminary financial data for the three months ended September 30, 2026, reporting adjusted earnings per share attributable to Kimberly-Clark of $1.70 and diluted earnings per share from continuing operations of $1.70. Net sales were estimated at $4,134 million, reflecting a 1.3% decline in organic sales growth compared to the prior year period. The company reaffirmed its full-year 2026 outlook, expecting adjusted operating profit to grow mid-single digits and adjusted EPS from continuing operations to grow high single digits on a constant-currency basis. Final results will be released on November 5, 2026. Kimberly-Clark manufactures personal care and consumer tissue products globally.
Kimberly-Clark received the necessary consents to amend the indentures governing all outstanding series of Kenvue Notes, clearing a key hurdle for its up to $7.0 billion exchange offer. The amendments eliminate restrictive covenants and SEC reporting requirements, with changes becoming operative only upon settlement of the offers. Early tender results show high participation across note series due 2028 through 2063. The exchange is conditioned on Kimberly-Clark's pending acquisition of Kenvue, expected to close in the fourth quarter of 2026. Kimberly-Clark manufactures personal care and consumer tissue products.
On September 29, 2026, Russell Torres, President and Chief Operating Officer of Kimberly-Clark Corporation, notified the company of his departure effective November 2, 2026 to pursue other opportunities. This executive change is material as it involves a key leadership role within the organization. The company operates in the consumer goods industry, manufacturing and distributing personal care and hygiene products.