Avery Dennison Prices $250 Million Senior Notes Offering


Avery Dennison Prices $250 Million Senior Notes Offering

PASADENA, Calif.--(BUSINESS WIRE)-- Avery Dennison Corporation (NYS: AVY) announced today that it has priced an underwritten public offering of $250,000,000 aggregate principal amount of 3.35% Senior Notes due 2023. The Senior Notes were priced at 99.898% of their principal amount. The offering is expected to close on April 8, 2013, subject to customary closing conditions.

Avery Dennison intends to use the net proceeds from the offering to repay existing indebtedness under its commercial paper program.

The joint book-running managers for this offering are Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC, RBS Securities Inc., and Wells Fargo Securities, LLC, with HSBC Securities (USA) Inc. and Mitsubishi UFJ Securities (USA), Inc. as co-managers.

Avery Dennison has filed a registration statement with the SEC relating to the offering. The offering may be made only by means of a preliminary prospectus supplement and accompanying prospectus, copies of which may be obtained from Merrill Lynch, Pierce, Fenner & Smith Incorporated at Attn: Prospectus Department, 222 Broadway, 11th Floor, New York, NY 10038, by calling (800) 294-1322 or by emailing dg.prospectus_requests@baml.com, or J.P. Morgan Securities LLC at Attn: Investment Grade Syndicate Desk, 383 Madison Avenue, 3rd Floor, New York, NY 10179, or by calling (212) 834-4533.

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.

About Avery Dennison

Avery Dennison (NYS: AVY) is a global leader in labeling and packaging materials and solutions. The company's applications and technologies are an integral part of products used in every major market and industry. With operations in more than 50 countries and 30,000 employees worldwide, Avery Dennison serves customers with insights and innovations that help make brands more inspiring and the world more intelligent. Headquartered in Pasadena, California, the company reported sales from continuing operations of $6 billion in 2012.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:

This press release may contain "forward-looking" statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These statements, which are not statements of historical fact, contain estimates, assumptions, projections and/or expectations regarding future events, which may or may not occur. Words such as "expect," "intend," "may," "would," or variations thereof and other expressions that refer to future events and trends, identify forward-looking statements. These forward-looking statements are subject to certain risks and uncertainties, which could cause our actual results to differ materially from the expected results, performance or achievements expressed or implied by such forward-looking statements.

In addition to the those discussed in "Risk Factors" and "Management's Discussion and Analysis of Results of Operations and Financial Condition" in our 2012 Form 10-K, filed on February 27, 2013 with the Securities and Exchange Commission, risk factors and uncertainties that may cause actual results to differ materially from expected results include, among others, our ability to successfully complete the proposed notes offering. The forward-looking statements included in this press release are made only as of the date hereof. By making these forward-looking statements, we assume no duty to update them to reflect new, changed or unanticipated events or circumstances, other than as may be required by law.

Avery Dennison Corporation
Media Relations:
David Frail, (626) 304-2014 (o) and (626) 298-5902 (m)
Investor Relations:
Eric M. Leeds, (626) 304-2029

KEYWORDS: United States North America California


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