KIMBERLY-CLARK DANGLES $7 BILLION TO KENVUE BONDHOLDERS

Kimberly-Clark is offering to swap up to $7 billion in debt across seven series of Kenvue notes for new Kimberly-Clark paper, clearing the balance sheet ahead of its takeover of the Tylenol maker. Holders who tendered by October 9 locked in an extra $30 per $1,000 of notes; everyone who waits until the October 27 deadline gets the base offer only. The deal is still penciled in to close in the fourth quarter of 2026, and $KMB is using the credit market to line up financing before that date arrives.