Kimberly-Clark Completes $6.375B Kenvue Notes Exchange; KVUE to Delist November 12
· The NYC Memo
Kimberly-Clark Corporation completed exchange offers on November 4, 2026 for up to $7 billion in Kenvue Notes across seven series, with approximately $6.375 billion in notes tendered, accepted, and canceled in exchange for new Kimberly-Clark notes and cash. A Third Supplemental Indenture dated October 9, 2026 simultaneously became operative, eliminating substantially all restrictive covenants, certain events of default, SEC reporting obligations, and merger restrictions from the Kenvue Indenture.
The NYSE filed a Form 25-NSE on November 2, 2026 to delist Kenvue Common Stock (KVUE) effective November 12, 2026, with residual Kenvue Notes remaining outstanding ranging from approximately $21.6 million to $260.7 million per series.