secwatch.observer — SEC 8-K summary
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Issuer:     Avery Dennison Corp (AVY)
CIK:        0000008818
Form:       8-K
Filed at:   2023-01-30T23:59:59+00:00
Accession:  0001193125-23-018210
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Avery Dennison extends credit facility maturity to 2026 and ups revolving commitments to $1.2B
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- Entered Amendment No. 2 to Fifth Amended Credit Agreement on Jan 24, 2023.
- Maturity extended one year from Feb 2025 to Feb 2026 via existing extension option.
- Added $400M of revolving commitments, raising total to $1.2B.
- Benchmark rate replaced with Term SOFR for USD and Alternative Currency Term Rate for other currencies.
- All existing lenders plus two new lenders (PNC, Agricultural Bank of China) participated.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/8818/000119312523018210/0001193125-23-018210-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/8818/000119312523018210/d445993d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-018210

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