Estee Lauder is raising funds as the deadline to fully acquire the Canadian-beauty brand Deciem, owner of The Ordinary brand, approaches. In February 2021, the beauty giant said it agreed to purchase the remaining 24% stake after a three-year period, and it is now issuing $650 million of senior notes to acquire the remaining interest. The Ordinary is boosting Estee Lauder’s results thanks to its distribution strategy and appeal to a younger customer base. It is expected to become Estee Lauder’s seventh $1 billion plus brand in the next few years. The total acquisition is valued at about $1.7 billion. The offering is expected to close on or about Feb. 14. Shares drop 2.9% to $141.61.