Unilever Prices €2 Billion Bonds On European Markets
Consumer goods giant Unilever has priced €2 billion in bonds on European markets this week.
The Anglo-Dutch company said that these bonds comprise €500 million of 0.5% fixed rate notes due August 2023, €700 million of 1.125% fixed rate notes due February 2027, and €800 million of 1.625% fixed rate notes due February 2033.
Unilever says that it intends to use the proceeds for general corporate purposes. The bonds have a scheduled settlement date of 12 February 2018.
Last week, Unilever reported underlying sales growth of 4% in the fourth quarter, beating analyst expectations even as price increases fell short.
The company, which produces brands such as Dove soap, Ben & Jerry's ice cream and Hellmann's mayonnaise, saw net profit for full-year 2017 rise 16.9% to €6.5 billion.
Unilever has also said it’s seeking to abandon its dual-headquarters structure and settle on a single location in either the UK or the Netherlands. A decision is likely to be finalised in the coming weeks, CEO Paul Polman said.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.