ACCO Brands to use credit facility borrowings to fund acquisition

By Marisa Wong

Morgantown, W.Va., March 21 – ACCO Brands Corp. plans to use borrowings under its existing credit facility to finance an acquisition, according to an 8-K filing with the Securities and Exchange Commission.

ACCO Brands will acquire the remaining 50% of its Australian joint venture, Pelikan Artline Pty. Ltd. The cash purchase price will be about $103 million.

ACCO Brands is a Lake Zurich, Ill.-based office supply manufacturer.

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