Newell Rubbermaid Prices $850 Million Notes Offering
Newell Rubbermaid
November 14, 2014 5:05 PM
GlobeNewswire
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ATLANTA, Nov. 14, 2014 (GLOBE NEWSWIRE) -- Newell Rubbermaid (NWL) today announced that it has priced a registered underwritten public offering of $850 million of notes, consisting of $350 million of notes due 2019 and $500 million of notes due 2024.
The notes due 2019 will pay interest semi-annually on June 1 and December 1, commencing June 1, 2015, at a rate of 2.875% per year and will mature on December 1, 2019.
The notes due 2024 will pay interest semi-annually on June 1 and December 1, commencing June 1, 2015, at a rate of 4.000% per year and will mature on December 1, 2024.
The offering is expected to close on November 19, 2014. The company plans to use the net proceeds (1) to redeem its $250,000,000 2.00% Notes due 2015 and the remaining $20,700,000 of its 10.60% Notes due 2019, (2) to purchase up to $100,000,000 of its 4.70% Notes due 2020 in a tender offer, (3) to reduce borrowings under its commercial paper program, (4) to reduce amounts outstanding under its receivables financing facility and (5) for general corporate purposes, which may include additions to working capital and possible acquisitions.
Barclays Capital Inc., J.P. Morgan Securities LLC and RBC Capital Markets, LLC are acting as joint book-running managers for the offering. The offering was made pursuant to Newell Rubbermaid's effective shelf registration statement. Copies of the prospectus supplement and accompanying prospectus may be obtained by visiting the SEC's website at www.sec.gov or by contacting Barclays Capital Inc. c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (or by calling 1-888-603-5847 or emailing barclaysprospectus@broadridge.com), J.P. Morgan Securities LLC at 383 Madison Ave., New York, NY 10179, Attn: Investment Grade Syndicate Desk (or by calling 212-834-4533) or RBC Capital Markets, LLC, Three World Financial Center, 200 Vesey Street, New York, New York 10281, Attn: Debt Capital Markets (or by calling 866-375-6829 or by emailing usdebtcapitalmarkets@rbccm.com).
About Newell Rubbermaid
Newell Rubbermaid Inc., an S&P 500 company, is a global marketer of consumer and commercial products with 2013 sales of $5.7 billion and a strong portfolio of leading brands, including Sharpie(R), Paper Mate(R), Rubbermaid Commercial Products(R), Irwin(R), Lenox(R), Parker(R), Waterman(R), Rubbermaid(R), Contigo(R), Levolor(R), Calphalon(R), Goody(R), Graco(R), Aprica(R) and Dymo(R). As part of the company's Growth Game Plan, Newell Rubbermaid is making sharper portfolio choices and investing in new marketing and innovation to accelerate performance.
This press release and additional information about Newell Rubbermaid are available on the company's Web site, www.newellrubbermaid.com.
Contact:
Nancy O'Donnell
Vice President, Investor Relations
(770) 418-7723
Nicole Quinlan
Senior Manager, Corporate Communications
(770) 418-7251
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