debt
confidence high
sentiment neutral
materiality 0.50
Avery Dennison issues €500M 4.000% senior notes due 2035
Avery Dennison Corp
- €500M aggregate principal of 4.000% senior notes due September 11, 2035, closed September 11, 2025.
- Net proceeds of ~€493.5M to finance acquisitions and repay commercial paper.
- Notes are unsecured, rank equally with existing unsecured debt; redeemable at make-whole prior to June 11, 2035.
- Change-of-control triggering event requires offer to repurchase at 101% of principal plus accrued interest.
- Interest payable annually on September 11, starting September 11, 2026.
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