Business News: Avery Dennison Prices $500 Million Senior Notes Offering
GLENDALE, CA – Avery Dennison Corporation (NYSE: AVY) announced today that it has priced an underwritten public offering of $500,000,000 aggregate principal amount of 4.875% Senior Notes due 2028. The Senior Notes were priced at 99.500% of their principal amount. The offering is expected to close on December 6, 2018, subject to customary closing conditions.
The company intends to use the net proceeds from the offering to repay existing indebtedness under its commercial paper program.