Kenvue Inc. tapped the US investment-grade market Wednesday with a jumbo inaugural bond offering to help finance its separation from health-care giant Johnson & Johnson later this year.
The firm sold $7.75 billion of bonds in eight parts, according to a person with knowledge of the matter. The longest portion of the offering, a 40-year security, yields 1.35 percentage point above Treasuries after initial discussions of around 1.65 percentage point, said the person, who asked not to be identified as the details are private.
Funds raised from the sale will be used to pay J&J all of cash and cash ...
