Procter and Gamble To Raise Nearly $2B
January 31, 2022
Cincinnati-based Procter and Gamble today filed documents with the Securities and Exchange Commission to raise $1.85B. The consumer giant plans to raise the funds by selling debt. A spokesperson says the money will be used for general business purposes. Cincinnati Business Courier reporter Andy Brownfield asked our Jim Russell about the timing of the move:
“Jim Russell, principal and portfolio manager at downtown-based Bahl & Gaynor Investment Counsel, told me P&G could be looking to raise funding while interest rates remain low.
He said U.S. interest rates are still low relative to history, but the Federal Reserve has signaled it intends to fight inflation in 2022, and one of the tools at its disposal is the Fed Funds rate, the interest rate banks charge one another to lend or borrow funds. Most capital market participants expect a series of Fed Funds rate increases to begin in March of this year, he said.”
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