Avery Dennison Enters Material Definitive Agreement
Ticker: AVY · Form: 8-K · Filed: Jun 27, 2024 · CIK: 8818
| Field | Detail |
|---|---|
| Company | Avery Dennison CORP (AVY) |
| Form Type | 8-K |
| Filed Date | Jun 27, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $1, $1.2 billion, $600 million, $50 million, $250 m |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-definitive-agreement, financial-obligation
Related Tickers: AVY
TL;DR
AVERY DENNISON JUST SIGNED A BIG FINANCIAL DEAL - CHECK THE 8-K
AI Summary
On June 26, 2024, Avery Dennison Corporation entered into a material definitive agreement related to the creation of a direct financial obligation. The filing indicates this is a significant event for the company, requiring disclosure under SEC regulations.
Why It Matters
This filing signals a significant financial commitment or obligation for Avery Dennison, which could impact its financial structure and future operations.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements and creating financial obligations can introduce financial risks and impact the company's balance sheet.
Key Players & Entities
- Avery Dennison Corporation (company) — Registrant
- June 26, 2024 (date) — Date of earliest event reported
FAQ
What type of material definitive agreement did Avery Dennison Corporation enter into?
The filing indicates the entry into a material definitive agreement and the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is June 26, 2024.
What is the Central Index Key for Avery Dennison Corporation?
The Central Index Key for Avery Dennison Corporation is 0000008818.
Under which section of the Securities Exchange Act is this 8-K filed?
This 8-K is filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
What is the business address of Avery Dennison Corporation?
The business address of Avery Dennison Corporation is 8080 Norton Parkway, Mentor, OH 44060.
Filing Stats: 1,050 words · 4 min read · ~4 pages · Grade level 10.9 · Accepted 2024-06-27 15:18:03
Key Financial Figures
- $1 — nge on which registered Common stock, $1 par value AVY New York Stock Exchan
- $1.2 billion — ompany may borrow up to an aggregate of $1.2 billion in revolving loans (the "Loans"). At th
- $600 million — y be increased by up to an aggregate of $600 million upon the Company's request. The Credit
- $50 million — consolidated subsidiaries in excess of $50 million to consolidated EBITDA) of not more tha
- $250 m — acquisition by the Company that exceeds $250 million, the maximum leverage ratio shall
Filing Documents
- d844816d8k.htm (8-K) — 33KB
- d844816dex101.htm (EX-10.1) — 581KB
- 0001193125-24-170372.txt ( ) — 900KB
- avy-20240626.xsd (EX-101.SCH) — 4KB
- avy-20240626_def.xml (EX-101.DEF) — 13KB
- avy-20240626_lab.xml (EX-101.LAB) — 21KB
- avy-20240626_pre.xml (EX-101.PRE) — 14KB
- d844816d8k_htm.xml (XML) — 5KB
Financial Statements and Exhibits
Financial Statements and Exhibits. Exhibit Number Exhibit Title 10.1 Credit Agreement, dated as of June 26, 2024, among Avery Dennison Corporation, as borrower; a syndicate of lenders party thereto; Mizuho Bank, Ltd., as administrative agent; Mizuho Bank, Ltd. and Bank of America, N.A., as syndication agents; and Citibank, N.A., as documentation agent. 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AVERY DENNISON CORPORATION Date: June 27, 2024 By: /s/ Gregory S. Lovins Name: Gregory S. Lovins Title: Senior Vice President and Chief Financial Officer