Bonds
Procter & Gamble Ties Its Own Record-Tight 10-Year Spread
- 10-year note will yield 0.37 percentage point above Treasuries
- The company sold such debt in January at the same premium
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Procter & Gamble Co. tied its own record Monday for selling a 10-year US corporate bond at the smallest premium to comparable Treasuries.
The maker of Tide laundry detergent and Crest toothpaste sold $1 billion of notes in two tranches on Monday. The $500 million 10-year note yields 0.37 percentage point above Treasuries, according to a person with knowledge of the offering who asked not to be identified. That matches the level of a $750 million 10-year bond it issued in January, which set the tightest spread for a note of such length according to data compiled by Bloomberg dating to 2000.