P&G offers to buy back $1.25 billion in debt

Procter & Gamble Co. has launched a tender offer to buy back up to $1.25 billion in debt.

Downtown Cincinnati-based consumer products giant P&G’s offer includes 11 different series of debt securities, including two monetized in British pounds and two in euros, according to a news release. The securities’ maturity date ranges from 2020 to 2037.

The offering includes about $260 million in debt that carries interest rates of 8 percent or higher. That’s higher than P&G (NYSE: PG) would have…

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