Avery Dennison Prices €500 Million Senior Notes Offering
31 Oktober 2024 - 1:00AM
Business Wire
Avery Dennison Corporation (NYSE: AVY) announced today that it
has priced an underwritten public offering of €500 million
aggregate principal amount of 3.750% Senior Notes due 2034. The
Senior Notes were priced at 99.672% of their principal amount. The
offering is expected to close on November 4, 2024, subject to
customary closing conditions.
Avery Dennison intends to use the net proceeds from the offering
to repay in full the €500 million aggregate principal amount of its
1.250% senior notes due 2025 when they mature on March 3, 2025 and
for general corporate purposes.
The joint book-running managers for this offering are Merrill
Lynch International, Mizuho International plc, SMBC Bank
International plc, Citigroup Global Markets Limited, Goldman Sachs
& Co. LLC, HSBC Continental Europe, J.P. Morgan Securities plc
and PNC Capital Markets LLC, with Academy Securities, Inc., ING
Bank N.V., Belgian Branch, Loop Capital Markets LLC and Standard
Chartered Bank as co-managers.
The offering is being made pursuant to an effective registration
statement (containing a prospectus) that has been filed with the
Securities and Exchange Commission (the “SEC”). A preliminary
prospectus supplement related to the offering has been filed with
the SEC and is available on the SEC’s website at
http://www.sec.gov. A copy of the preliminary prospectus supplement
and accompanying prospectus may also be obtained by calling Merrill
Lynch International toll-free at +1-800-294-1322, Mizuho
International plc at +44-207-248-3920 and SMBC Bank International
plc toll-free at +44-204-507-1000.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any jurisdiction in which such
an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. Any offer, solicitation or sale of these securities
will be made only by means of the prospectus supplement and the
accompanying prospectus.
About Avery Dennison
Avery Dennison Corporation (NYSE: AVY) is a global materials
science and digital identification solutions company that provides
a wide range of branding and information solutions that optimize
labor and supply chain efficiency, reduce waste, advance
sustainability, circularity and transparency, and better connect
brands and consumers. Our products and solutions include labeling
and functional materials, radio frequency identification (RFID)
inlays and tags, software applications that connect the physical
and digital, and a variety of products and solutions that enhance
branded packaging and carry or display information that improves
the customer experience. Serving an array of industries worldwide —
including home and personal care, apparel, general retail,
e-commerce, logistics, food and grocery, pharmaceuticals and
automotive — we employ approximately 35,000 employees in more than
50 countries. Our reported sales in 2023 were $8.4 billion.
“Safe Harbor” Statement under the Private Securities
Litigation Reform Act of 1995:
Certain statements contained in this document are
“forward-looking statements” intended to qualify for the safe
harbor from liability established by the Private Securities
Litigation Reform Act of 1995. These forward-looking statements,
and financial or other business targets, are subject to certain
risks and uncertainties. Forward-looking statements also include
those related to the closing of this offering.
Actual results and trends may differ materially from historical
or anticipated results depending on a variety of factors, including
but are not limited to, risks and uncertainties relating to our
ability to satisfy the conditions to closing the offering.
For a more detailed discussion of these and other factors, see
“Risk Factors” and “Management’s Discussion and Analysis of
Financial Condition and Results of Operations” in our 2023 Form
10-K, filed with the SEC on February 21, 2024, and subsequent
quarterly reports on Form 10-Q.
The forward-looking statements included in this document are
made only as of the date of this document, and we undertake no
obligation to update these statements to reflect new, changed or
unanticipated events or circumstances, other than as may be
required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20241030008558/en/
John Eble Vice President, Finance and Investor Relations
investorcom@averydennison.com
Kristin Robinson Vice President, Global Communications
kristin.robinson@averydennison.com
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