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ACCO Brands to use financing to redeem part of its 7 5/8% notes
By Tali David
Minneapolis, Feb. 29 - ACCO Brands Corp. is pursuing $100 million of financing and plans to use the proceeds to redeem a portion of its outstanding 7 5/8% senior subordinated notes, according to an 8-K filed with the Securities and Exchange Commission.
The financing is in addition to the anticipated financing for the company's acquisition of MeadWestvaco Corp.'s consumer and office products business. The transaction would be concurrent with or following the completion of the acquisition.
As of Dec. 31, there were $246.3 million of the notes outstanding.
ACCO Brands is a Lincolnshire, Ill.-based office supply manufacturer.
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