New Issue-Procter & Gamble sells $2 bln notes in 2 parts

  Sept 4 (Reuters) - Consumer products maker Procter &
Gamble Co (PG.N: Quote, Profile, Research, Stock Buzz), on Thursday sold $2 billion of floating-rate
notes in two parts, said market sources.

  JP Morgan and Morgan Stanley were the active joint
bookrunning managers while HSBC Securities was the passive
joint bookrunning manager for the sale.
BORROWER: THE PROCTER & GAMBLE COMPANY
FIRST TRANCHE:
AMT $1.25 BLN     COUPON 3 BPS/       MATURITY 9/9/2009  

                3-MO LIBOR
TYPE FRN          ISS PRICE 100       FIRST PAY 12/9/2008
MOODY'S Aa3       YIELD N/A           SETTLEMENT 9/9/2008
S&P AA-MINUS      SPREAD N/A          PAY FREQ QUARTERLY 
FITCH N/A                             NON-CALLABLE       
SECOND TRANCHE:
AMT $750 MLN      COUPON 18 BPS/      MATURITY 3/9/2010  

                3-MO LIBOR
TYPE FRN          ISS PRICE           FIRST PAY 12/9/2008
MOODY'S Aa3       YIELD N/A           SETTLEMENT 9/9/2008
S&P AA-MINUS      SPREAD N/A          PAY FREQ QUARTERLY 
FITCH N/A                             NON-CALLABLE