UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C.
20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section
13 OR 15(d) of The Securities Exchange Act Of 1934
|
Date
of
Report (Date of earliest event reported)
|
August 23, 2007 |
|
THE
PROCTER & GAMBLE COMPANY
|
|
(Exact
name
of registrant as specified in its
charter)
|
|
Ohio
|
1-434
|
31-0411980
|
||
|
(State
or
other jurisdiction
of
incorporation)
|
(Commission
File Number)
|
(IRS
Employer
Identification
Number)
|
|
One
Procter
& Gamble Plaza, Cincinnati, Ohio
|
45202
|
|
|
(Address
of
principal executive offices)
|
Zip
Code
|
|
(513)
983-1100
|
45202
|
|
|
(Registrant's
telephone number, including area code)
|
Zip
Code
|
|
o
|
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
|
|
¨
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
|
¨
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act
(17
CFR
240.14d-2(b))
|
|
¨
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act
(17
CFR
240.13e-4(c))
|
Item
1.01 Entry
into a
Material Definitive Agreement
On
August 17, 2007,
The Procter & Gamble Company (the “Company”) and Procter & Gamble
International S.a.r.l., Procter & Gamble Holding (HK) Limited and Procter
& Gamble International Operations, each Named Borrowers and wholly-owned
subsidiaries of the Company, entered into an amendment and restatement
of the
existing $24 billion 3-year credit facility that was entered into on July
27,
2005, (as previously amended, the “Credit Facility”), with a syndicate of banks
led by Citigroup and JP Morgan. The amendment resulted in two new credit
facilities: (i) a $17 billion 364-day credit facility, the cost of which
is a
variable interest rate of 8.5 basis points over LIBOR for drawn balances;
and
(ii) a $6 billion 5-year credit facility, the cost of which is 8.5 basis
points
over LIBOR for drawn balances until August 2008, when it increases to 15
basis
points over LIBOR. Proceeds from each of these facilities will be used
for
commercial paper backstop and general corporate purposes. The Company and
the
other Named Borrowers expects to pay down these two new facilities from
a
combination of operating cash flow, commercial paper and term debt beginning
in
fiscal year 2007/08.
From
time to time,
one or more of banks in the syndicate (including Citigroup and JP Morgan),
and/or their affiliates have provided, and may in the future provide, banking
services to the Company and its subsidiaries.
Item
2.03 Creation
of a
Direct Financial Obligation or an Obligation under an Off-Balance Sheet
Arrangement of a Registrant.
The
information
disclosed above under Item 1.01 is incorporated herein by
reference.
SIGNATURE
Pursuant
to the
requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this Report to be signed on its behalf by the undersigned hereunto
duly
authorized.
THE
PROCTER
& GAMBLE COMPANY
BY:
/s/
E. J. WUNSCH
E.
J.
Wunsch
Assistant
Secretary
August
23,
2007