ACCO Brands (ABD) Closes $460M Senior Secured Notes Offering
ACCO Brands Corporation (NYSE: ABD) announced today that it has closed an offering of $460 million of its 10.625 percent senior secured notes due 2015. The net proceeds of the notes will be used to refinance existing indebtedness, including the repayment of all borrowings outstanding under the company's former credit and securitization facilities, to repurchase in the open market approximately $30 million in aggregate principal amount of the company's senior subordinated notes due 2015 and, together with an initial borrowing under a new $175 million secured credit facility, to pay transaction and related costs.
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