Unilever taps US bonds market

31st Jul 2012 08:01

Anglo-Dutch household goods and foods giant Unilever is to tap the US bond market through two short-term fixed rate note issues.The PG tips group has priced a double-tranche $1.0bn (circa €0.8bn) bond on the US market: $450m 0.45% Fixed Rate Notes due 30th July 2015, and $550m 0.85% Fixed Rate Notes due 2nd August 2017. The anticipated closing date of the offering is 2nd August 2012.Unilever plans to use the proceeds for general corporate purposes.Last week the group unveiled first half profit before tax of €3.27bn. Net debt at the end of June stood at €9.2bn, up from €8.8bn as at 31st December 2011, as the outflow from dividends, acquisitions and the negative impact of foreign exchange rates on net debt together exceeded free cash flow. JH