L’Oreal Sells $1 Billion of Bonds in Firm’s US Market Debut
L'Oreal headquarters in Paris.
Photographer: Nathan Laine/BloombergL’Oreal SA sold $1 billion of investment-grade notes on Tuesday — the cosmetics company’s first deal in the US corporate bond market.
The firm’s 10-year note yields 0.625 percentage point above comparable Treasuries, according to a person familiar with the matter who asked not to be identified discussing private details. Initial price was for a spread of about 0.9 percentage point.