Acco Brands talks $425 million notes due February 2015 at 11%-11¼%

By Paul A. Harris

St. Louis, Sept. 18 - Acco Brands Corp. set price talk for its $425 million offering of 51/2-year senior secured notes at 11% to 11¼% on Friday, according to an informed source.

The deal is expected to price on Monday.

Credit Suisse, Bank of America Merrill Lynch, Deutsche Bank Securities Inc. and BMO Nesbitt Burns are joint bookrunners for the Rule 144A offering.

The notes come with three years of call protection.

Proceeds, along with proceeds from a new $175 million asset-based credit facility, will be used to repay all borrowings outstanding under the company's existing credit and securitization facilities.

The prospective issuer is a Lincolnshire, Ill.-based provider of traditional and computer-related office products and supplies.

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