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P&G Pays Record Low on 10-Years

Issuance hit $17.6 bln Wednesday as companies lock in falling yields.

By Tim Catts, Bloomberg | Updated on February 02, 2012

Procter & Gamble Co. obtained a 2.3 percent interest rate on its $1 billion of 10-year notes issued yesterday, a record low for the maturity, as corporate bond sales climbed to the most in almost three months.

P&G, the world’s largest consumer-products company, also sold $1 billion of two-year, floating-rate notes, according to data compiled by Bloomberg. Offerings in the U.S. reached $17.6 billion, the most since $21.2 billion was sold Nov. 7, as International Business Machines Corp. issued $2.5 billion of debt and Petroleos Brasileiro SA raised $7 billion.

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