Avery Dennison Prices €500 Million Senior Notes Offering
Avery Dennison Corporation (NYSE:AVY), a leading global materials science and digital identification solutions company, announced today that it has priced an underwritten public offering of €500 million aggregate principal amount of 4.000% Senior Notes due 2035. The Senior Notes were priced at 99.394% of their principal amount. The offering is expected to close on September 11, 2025, subject to customary closing conditions.
The company intends to use the net proceeds from the offering for general corporate purposes, including to finance acquisitions and repay existing indebtedness under its commercial paper program.
The joint book-running managers for this offering are Citigroup Global Markets Limited, Merrill Lynch International, Mizuho International plc, Goldman Sachs & Co. LLC, J.P. Morgan Securities plc, PNC Capital Markets LLC and Standard Chartered Bank, with Academy Securities, Inc., Bank of China (Europe) S.A., HSBC Continental Europe, ING Bank N.V. Belgian Branch and SMBC Bank International plc as co-managers.
The offering is being made pursuant to an effective registration statement (containing a prospectus) that has been filed with the Securities and Exchange Commission (the "SEC"). A preliminary prospectus supplement related to the offering has been filed with the SEC and is available on the SEC's website at http://www.sec.gov. A copy of the preliminary prospectus supplement and accompanying prospectus may also be obtained by calling Citigroup Global Markets Limited toll-free at +1-800-831-9146, Merrill Lynch International toll-free at +1-800-294-1322 and Mizuho International plc at +44-207-248-3920.
This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offer, solicitation or sale of these securities will be made only by means of the prospectus supplement and the accompanying prospectus.
About Avery Dennison
Avery Dennison Corporation (NYSE:AVY) is a global materials science and digital identification solutions company. We are Making Possible™ products and solutions that help advance the industries we serve, providing branding and information solutions that optimize labor and supply chain efficiency, reduce waste, advance sustainability, circularity and transparency, and better connect brands and consumers. We design and develop labeling and functional materials, radio frequency identification (RFID) inlays and tags, software applications that connect the physical and digital, and offerings that enhance branded packaging and carry or display information that improves the customer experience. Serving industries worldwide — including home and personal care, apparel, general retail, e-commerce, logistics, food and grocery, pharmaceuticals and automotive — we employ approximately 35,000 employees in more than 50 countries. Our reported sales in 2024 were $8.8 billion.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:
Certain statements contained in this document are "forward-looking statements" intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties. Forward-looking statements also include those related to the closing of this offering.
Actual results and trends may differ materially from historical or anticipated results depending on a variety of factors, including but are not limited to, risks and uncertainties relating to our ability to satisfy the conditions to closing the offering.
For a more detailed discussion of these and other factors, see "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our 2024 Form 10-K, filed with the SEC on February 26, 2025, and subsequent quarterly reports on Form 10-Q.
The forward-looking statements included in this document are made only as of the date of this document, and we undertake no obligation to update these statements to reflect new, changed or unanticipated events or circumstances, other than as may be required by law.
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William Gilchrist
Vice President, Investor Relations
[email protected]
Kristin Robinson
Vice President, Global Communications
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