What changed
Kimberly-Clark received requisite consents to amend the indenture governing all outstanding Kenvue notes, with Kenvue executing a supplemental indenture. The amendments become operative only upon settlement of exchange offers for up to $7,000,000,000 aggregate principal amount of new Kimberly-Clark notes. Settlement is not anticipated before November 2, 2026, and the Expiration Date is expected to be extended to occur on or about the closing date of Kimberly-Clark's pending acquisition of Kenvue. For each $1,000 principal amount tendered by the Early Participation Date, holders receive $970 principal amount of Kimberly-Clark notes, a $30 early participation premium, and $1.00 in cash.
Why it matters
Kimberly-Clark received requisite consents to amend the indenture governing all outstanding Kenvue notes, with Kenvue executing a supplemental indenture. The amendments become operative only upon sett