Acco World talks $350 million 10-year notes at 7½%-7¾%, pricing Tuesday

By Paul A. Harris

St. Louis, Aug. 1 - Acco World Corp. talked its $350 million offering of 10-year senior subordinated notes (B2/B) at 7½% to 7¾% on Monday, according to market sources.

Pricing is expected on Tuesday.

Citigroup and Goldman Sachs & Co. are bookrunners for the Rule 144A/Regulation S offering.

The notes come with five years of call protection.

The company is also obtaining a $750 million credit facility.

Proceeds will be used to finance the repayment of special dividend notes issued to the company's stockholders and to repay existing debt of General Binding Corp. and Acco related to Fortune Brands Inc.'s spinoff of Acco and the merger of Acco with General Binding Corp. to form a new entity called Acco Brands.

Acco is a Lincolnshire, Ill.-based supplier of branded office products.

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