Newell Rubbermaid Prices Offering $350M Notes Due 2017
Newell Rubbermaid (NYSE: NWL) today announced that it has priced a registered underwritten public offering of $350 million of notes due 2017.
The notes will pay interest semi-annually on June 1 and December 1, commencing June 1, 2013, at a rate of 2.05% per year and will mature on December 1, 2017.
The offering is expected to close on December 4, 2012. The company intends to use the net proceeds from the offering, together with cash on hand and short-term borrowings, to redeem its 5.50% Notes due April 15, 2013 in the aggregate principal amount of $500 million.
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