WASHINGTON (dpa-AFX) - Newell Rubbermaid Inc. (NWL) said Friday that it has priced a registered underwritten public offering of $850 million of notes, consisting of $350 million of 2.875% notes due 2019 and $500 million of 4.000% notes due 2024.
The offering is expected to close on November 19.
The company plans to use the net proceeds to redeem its $250 million 2.00% Notes due 2015 and the remaining $20.7 million of its 10.60% Notes due 2019, to purchase up to $100 million of its 4.70% Notes due 2020 in a tender offer, to reduce borrowings under its commercial paper program, to reduce amounts outstanding under its receivables financing facility and for general corporate purposes, which may include additions to working capital and possible acquisitions.
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