Newell Rubbermaid Closes $400 Million Loan Facility

Sep 22, 2008 (financialwire.net via COMTEX) -- NWL | Quote | Chart | News | PowerRating -- September 22, 2008 (FinancialWire) -- Newell Rubbermaid (NYSE: NWL | Quote | Chart | News | PowerRating) (Current Market Cap: US$5.29 Bil.) said it has completed a $400 million unsecured three-year term loan facility with Bank of America, N.A. (NYSE: BAC), as administrative agent, and JP Morgan Chase Bank, N.A., (NYSE: JPM | Quote | Chart | News | PowerRating) as syndication agent.

The company plans to use the loan proceeds to reduce outstanding commercial paper. Newell Rubbermaid said it was also granted an extension on its $448 million floating rate note, from September 2008 to September 2009.

Atlanta-based Newell Rubbermaid is a marketer of consumer and commercial products whose brands include Rubbermaid, Sharpie, Graco, Calphalon, Irwin, Lenox, Levolor, Paper Mate, Dymo, Waterman, Parker, Goody, BernzOmatic and Amerock.

The company has around 22,500 employees worldwide.

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