By Andrea Heisinger
Omaha, Sept. 20 - Avery Dennison Corp. priced $250 million of 6.625% 10-year notes Thursday to yield Treasuries plus 200 basis points, a market source said.
The Rule 144A notes (Baa1/BBB+) have a price of 99.529 and a yield of 6.696%.
The notes are non-callable.
Banc of America Securities LLC and J.P. Morgan Securities Inc. were bookrunners.
The office and paper products company is based in Pasadena, Calif.
| Issuer: | Avery Dennison Corp.
|
| Issue: | Notes
|
| Amount: | $250 million
|
| Maturity: | Oct. 1, 2017
|
| Bookrunners: | Banc of America Securities LLC, J.P. Morgan Securities Inc.
|
| Coupon: | 6.625%
|
| Price: | 99.529
|
| Yield: | 6.696%
|
| Spread: | Treasuries plus 200 bps
|
| Call: | Non-callable
|
| Trade date: | Sept. 20
|
| Settlement date: | Sept. 25
|
| Distribution: | Rule 144A
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB+
|
© 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.
