Avery Dennison Completes €500 Million Euro-Denominated Bond Offering
Simpson Thacher represented Citigroup Global Markets Limited, Merrill Lynch International, Mizuho International plc and other underwriters in a public offering of €500 million of 4.000% Senior Notes due 2035 by Avery Dennison Corporation (“Avery Dennison”). Avery Dennison intends to use the net proceeds of the offering for general corporate purposes, including to finance acquisitions and repay existing indebtedness under their commercial paper program.
Avery Dennison 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. Avery Dennison’s 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 — Avery Dennison employs approximately 35,000 employees in more than 50 countries.
The Simpson Thacher team for this transaction included, Lesley Peng, Erica Yoon and Jeryne Fish (Capital Markets); Michael Mann and Kris Liu (Tax); Michael Isby (Environmental); Alysha Sekhon, Christian Bond and Isabella Gonzalez (Intellectual Property); Erica Rozow and Pasco Struhs (ECEB); and Jennie Getsin (Blue Sky).