Avery Dennison plans to price senior notes via three bookrunners

By Marisa Wong

Los Angeles, March 6 – Avery Dennison Corp. plans to price fixed-rate senior notes, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will feature a make-whole call followed by a par call. The notes will also be putable at 101 if a change of control occurs.

BofA Securities, Inc., Citigroup Global Markets Inc. and Mizuho Securities USA LLC are the joint bookrunners.

Bank of New York Mellon Trust Co., NA is the trustee.

Latham & Watkins LLP will act as counsel to the issuer. Simpson Thacher & Bartlett LLP is counsel to the underwriters.

Proceeds will be used repay existing debt under the company’s commercial paper programs, to repay the $250 million aggregate principal amount of its 3.35% senior notes due 2023 when they mature on April 15, 2023 and for general corporate purposes.

The adhesive manufacturing company is based in Mentor, Ohio.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.