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ATLANTA, Sep 16, 2009 (BUSINESS WIRE) -- Newell Rubbermaid Inc. (NYSE: NWL) today announced the closing of a new 364-day $200 million accounts receivable facility through Co-Structuring agents Banc of America Securities LLC and J.P.Morgan Securities Inc. The facility replaces the company's existing $450 million accounts receivable facility, resulting in a net $250 million reduction in outstanding indebtedness. This action completes Newell Rubbermaid's 2009 refinancing activities, which also included a March 2009 issuance of $300 million in medium-term notes and $345 million in convertible senior notes.
About Newell Rubbermaid
Newell Rubbermaid Inc., an S&P 500 company, is a global marketer of consumer and commercial products with sales of approximately $6 billion and a strong portfolio of brands, including Rubbermaid(R), Sharpie(R), Graco(R), Calphalon(R), Irwin(R), Lenox(R), Levolor(R), Paper Mate(R), Dymo(R), Waterman(R), Parker(R), Goody(R), Technical ConceptsTM and Aprica(R).
This press release and additional information about Newell Rubbermaid are available on the company's Web site, www.newellrubbermaid.com.
NWL-CO
Caution Concerning Forward-Looking Statements
Statements in this press release that are not historical in nature constitute forward-looking statements. These forward-looking statements relate to information or assumptions about the effects of sales, income/(loss), earnings per share, operating income or gross margin improvements or declines, Project Acceleration, capital and other expenditures, cash flow, dividends, restructuring costs, costs and cost savings, inflation, particularly with respect to commodities such as oil and resin, debt ratings, and management's plans, projections and objectives for future operations and performance. These statements are accompanied by words such as "anticipate," "expect," "project," "will," "believe," "estimate" and similar expressions. Actual results could differ materially from those expressed or implied in the forward-looking statements. Important factors that could cause actual results to differ materially from those suggested by the forward-looking statements include, but are not limited to, our dependence on the strength of retail, commercial and industrial sectors of the economy in light of the global economic slowdown; currency fluctuations; competition with other manufacturers and distributors of consumer products; major retailers' strong bargaining power; changes in the prices of raw materials and sourced products and our ability to obtain raw materials and sourced products in a timely manner from suppliers; our ability to develop innovative new products and to develop, maintain and strengthen our end-user brands; our ability to expeditiously close facilities and move operations while managing foreign regulations and other impediments; our ability to implement successfully information technology solutions throughout our organization; our ability to improve productivity and streamline operations; our ability to refinance short-term debt on terms acceptable to us, particularly given the recent turmoil and uncertainty in the global credit markets; changes to our credit ratings; significant increases in the funding obligations related to our pension plans due to declining asset values or otherwise; the imposition of tax liabilities greater than our provisions for such matters; the risks inherent in our foreign operations and those factors listed in the company's most recent quarterly report on Form 10-Q, and exhibit 99.1 thereto, filed with the Securities and Exchange Commission. Changes in such assumptions or factors could produce significantly different results. The information contained in this news release is as of the date indicated. The company assumes no obligation to update any forward-looking statements contained in this news release as a result of new information or future events or developments.
SOURCE: Newell Rubbermaid Inc.
Newell Rubbermaid Inc.
Nancy O'Donnell, +1-770-418-7723
Vice President, Investor Relations
or
David Doolittle, +1-770-418-7519
Vice President, Corporate Communications
Copyright Business Wire 2009
