WASHINGTON (dpa-AFX) - ACCO Brands Corp. (ABD) announced the pricing at par of the offering of $500 million aggregate principal amount of 6.75% percent senior notes due 2020.
The Notes were offered by Monaco SpinCo, Inc., which is currently a subsidiary of MeadWestvaco Corporation (MWV), and certain selling security holders.
ACCO Brands said that Monaco SpinCo will be the new holding company for MWV's Consumer and Office Products business, which, as previously announced, MWV intends to distribute to its shareholders in a tax-free spin-off.
The sale of the Notes is expected to settle on May 1, 2012, immediately prior to the merger of SpinCo with a wholly owned subsidiary of ACCO Brands, with Monaco SpinCo continuing as the surviving corporation.
Copyright RTT News/dpa-AFX
© 2012 AFX News
