Simpson Thacher represented Merrill Lynch International, Mizuho International plc, SMBC Bank International plc and other underwriters in a public offering of €500 million of 3.750% Senior Notes due 2034 by Avery Dennison Corporation (“Avery Dennison”). Avery Dennison intends to use the net proceeds of the offering to repay in full the €500 million aggregate principal amount of its 1.250% Senior Notes due 2025 when they mature on March 3, 2025 and for general corporate purposes.
Avery Dennison is a global materials science and digital identification solutions company that provides a wide range of branding and information solutions that optimize labor and supply chain efficiency, reduce waste, advance sustainability, circularity and transparency, and better connect brands and consumers. Avery Dennison’s products and solutions include labeling and functional materials, radio frequency identification (RFID) inlays and tags, software applications that connect the physical and digital, and a variety of products and solutions that enhance branded packaging and carry or display information that improves the customer experience. Serving an array of industries worldwide — including home and personal care, apparel, general retail, e-commerce, logistics, food and grocery, pharmaceuticals and automotive — Avery Dennison employs approximately 35,000 employees in more than 50 countries.
The Simpson Thacher team for this transaction included Lesley Peng, Minaal E. Wickremesinghe and Sean Xu (Capital Markets); Michael Mann and Kris Liu (Tax); Alysha Sekhon and Christian Bond (Intellectual Property); Erica Rozow and Pasco Struhs (ECEB); and Jennie Getsin (Blue Sky). Rebecca Carroll also provided valuable assistance.