Avery Dennison Raises $800M Via Senior Notes Offering

Avery Dennison Corp AVY has priced an underwritten public offering of $300 million of 0.850% Senior Notes due 2024 and $500 million of 2.250% Senior Notes due 2032.
The Notes due 2024 were priced at 99.991%, and Notes due 2032 were priced at 99.592% of their principal amounts.
The company will use the net proceeds to finance a portion of the previously-announced acquisition of Vestcom or for other general corporate purposes.
The offering is expected to close on August 18, 2021.
Price Action: AVY shares are trading higher by 0.27% at $217.59 on the last check Wednesday.