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Non-Tech : NWL: Newell Rubbermaid, Inc.
NWL 29.890.0%Apr 17 6:40 PM EDTNews

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From: Dr. Microcap6/17/2002 11:16:39 AM
of 105
 
Monday June 17, 11:00 am Eastern Time
Press Release
SOURCE: Newell Rubbermaid Inc.
Newell Rubbermaid Completes $1.3 Billion Syndicated Credit Facilities
FREEPORT, Ill., June 17 /PRNewswire-FirstCall/ -- Newell Rubbermaid Inc. (NYSE: NWL - News) today announced that it has completed the syndication of new revolving credit facilities totaling $1.3 billion. The new agreement consists of a 364-day credit agreement in the amount of $650 million and a five-year credit facility in the amount of $650 million. These replace the company's existing $1.3 billion credit facility, which was scheduled to mature in August of this year. The financing will be used for general corporate purposes and commercial paper backstop.

"These credit facilities are an important part of Newell Rubbermaid's financial strategy. The structure strengthens our balance sheet and assures both liquidity and flexibility to take advantage of our growth opportunities," said William T. Alldredge, Newell Rubbermaid's Chief Financial Officer. "We appreciate this opportunity to work with J.P. Morgan and the professionalism in which the facility was executed."

J.P. Morgan Securities Inc. acted as sole lead arranger. 17 leading global commercial banks participated in the credit facilities.

Newell Rubbermaid Inc. is a global marketer of consumer products with 2001 sales of nearly $7 billion and a powerful brand family including Sharpie®, Paper Mate®, Parker®, Waterman®, Colorific®, Rubbermaid®, Blue Ice®, Calphalon®, Little Tikes®, Graco®, Levolor®, Kirsch®, Shur- Line®, BernzOmatic®, Goody®, Vise-Grip®, Quick-Grip® and Irwin®. The company is headquartered in Freeport, Illinois and employs 49,000 people worldwide.

This press release and additional information about the company are available at the Company's Web site at www.newellco.com .

SOURCE: Newell Rubbermaid Inc.
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