House & Home
Wed, June 27, 2012
ATLANTA--([ BUSINESS WIRE ])--Newell Rubbermaid (NYSE: NWL) today announced that it has priced a registered underwritten public offering of $500 million of notes, consisting of $250 million of notes due 2015 and $250 million of notes due 2022.
The notes due 2015 will pay interest semi-annually on June 15 and December 15, commencing December 15, 2012, at a rate of 2.000% per year and will mature on June 15, 2015.
The notes due 2022 will pay interest semi-annually on June 15 and December 15, commencing December 15, 2012, at a rate of 4.000% per year and will mature on June 15, 2022.
The offering is expected to close on June 14, 2012. The company plans to use the net proceeds to redeem all its outstanding 5% Convertible Quarterly Income Preferred Securities, having an aggregate liquidation preference of $421.2 million, to reduce borrowings under its commercial paper program, to reduce amounts outstanding under its receivables financing facility and for general corporate purposes.
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 J.P. Morgan Securities LLC at 383 Madison Ave., New York, NY 10179, Attn: Investment Grade Syndicate Desk (or at 212-834-4533) or RBC Capital Markets, LLC at Three World Financial Center, 200 Vesey Street, New York, NY 10281, Attn: Debt Capital Markets (or at 866-375-6829).
About Newell Rubbermaid
Newell Rubbermaid Inc., an S&P 500 company, is a global marketer of consumer and commercial products with sales of approximately $5.9 billion and a strong portfolio of brands, including Rubbermaid, Levolor, Goody, Sharpie, Paper Mate, Calphalon, Waterman, Parker, Irwin , Lenox, Dymo, Graco, and Aprica.
This press release and additional information about Newell Rubbermaid are available on the company's Web site, [ www.newellrubbermaid.com ].
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