New capitalization plan for Newell Rubbermaid

Consumer products giant Newell Rubbermaid unveiled a capitalization plan Monday that includes repurchasing $500 million of its shares and other moves it said will cut its interest expenses. Newell, based in Sandy Springs, said it plans to issue $550 million of new senior notes that will become due in 2020 and tender a cash offer for all of its outstanding10.6 percent notes that are due in 2019. The company said its moves are not expected to have a material impact on its leverage ratio or projected full-year earnings guidance of $1.40 to $1.50 per share.

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Péralte C. Paul

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