Company: CL
Filing Date: 2025-11-05
Form Type: 424B2
Source: 0001104659-25-106990
Chunk: 11

Company: COLGATE PALMOLIVE CO
Filing Date: 2025-11-05
Form: 424B2
Chunk 11
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 result, we could
be forced to take other actions to meet those obligations, such as raising equity or debt capital or delaying capital expenditures, any
of which could have a material adverse effect on us. Furthermore, we cannot assure you that we will be able to effect any of these actions
on favorable terms, or at all. Additionally, if we incur additional indebtedness in connection with future acquisitions or for any other
purpose, our debt service obligations could increase significantly and our ability to meet those obligations could depend, in large part,
on the returns from such acquisitions, as to which no assurance can be given.

We may need to refinance all or a portion of our
indebtedness, including the Notes, at or prior to maturity. Our ability to refinance our indebtedness or obtain additional financing will
depend on, among other things, our financial condition, liquidity, results of operations, and prospects and market conditions at the time
and restrictions in the agreements governing our indebtedness. As a result, we may not be able to refinance any of our indebtedness, including
the Notes, on favorable terms, or at all.

The Notes will be structurally subordinated to all the obligations of our subsidiaries and our ability to service our debt is dependent on the performance of our subsidiaries.

None of our subsidiaries will guarantee the Notes.
Payments on the Notes are only required to be made by Colgate. As a result, no payments are required to be made by, and holders of Notes
will not have a claim against the assets of, any of our subsidiaries, except if those assets are transferred, by dividend or otherwise,
to us. Accordingly, the Notes will be structurally subordinated in right of payment to all existing and future indebtedness and other
liabilities, including trade payables and other accrued liabilities but excluding intercompany liabilities, of our subsidiaries. The incurrence
of indebtedness or other liabilities by any of our subsidiaries is not prohibited by the Indenture governing the Notes and could adversely
affect our ability to pay our obligations on the Notes. As of September 30, 2025, indebtedness of our subsidiaries, excluding intercompany
liabilities, that would have been structurally senior to the Notes, was approximately $68 million. We anticipate that from time to time
our subsidiaries may incur additional debt and other liabilities. Additionally, the Notes are structurally subordinated to all existing
and future indebtedness and other liabilities, including trade payables and other accrued liabilities, of our