Avery Dennison Prices $250 Million Senior Notes Offering

Wed Apr 3, 2013 4:24pm EDT

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PASADENA, Calif.--(Business Wire)--
Avery Dennison Corporation (NYSE: 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 (NYSE: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)
david.frail@averydennison.com
or
Investor Relations:
Eric M. Leeds, (626) 304-2029
investorcom@averydennison.com

Copyright Business Wire 2013

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