Cash Tender Offer for 2033 Senior Notes
Avery Dennison Corp. (NYSE: AVY) has announced the initiation of cash tender offers to purchase its outstanding senior notes due in 2033. The offer, disclosed on November 5, 2026, targets two series:
| Series | CUSIP/ISIN | Aggregate Principal Outstanding | Acceptance Priority | Par Call Date | Maturity Date | Fixed Spread |
|---|---|---|---|---|---|---|
| 5.750 % Senior Notes | 053611AN9 | $400 million | 1 (highest) | December 15, 2032 | March 15, 2033 | 4.625 % UST |
| 6.000 % Senior Notes | 053611AB5 | $150 million | 2 | — | January 15, 2033 | 4.625 % UST |
The tender offers are subject to a cumulative principal cap of $225 million, referred to as the Waterfall Cap. The company may adjust this cap or waive the yield condition before the offer’s expiration. Acceptance will follow the stated priority levels, with the 5.750 % notes given precedence over the 6.000 % notes.
Avery Dennison’s announcement was filed with the Securities and Exchange Commission (SEC) and made public via StockTitan and Xueqiu, providing the relevant accession numbers and links to the full filing. This move aligns with the company’s strategy to manage its debt portfolio and optimize capital structure.
SEC Filings on Securities Sale and Beneficial Ownership
On November 5, 2026, a report of the proposed sale of securities was filed with the SEC under accession number 0001959173‑26‑007780. The filing, accessible through the SEC’s EDGAR database, details the sale process and relevant regulatory disclosures.
Additionally, on November 4, 2026, an initial statement of beneficial ownership of securities was submitted (accession number 0000008818‑26‑000169). This filing provides information on the holders of Avery Dennison shares, ensuring transparency for investors and compliance with SEC reporting requirements.
These filings underscore the company’s active engagement in debt management and its commitment to regulatory transparency.
