ACCO Brands (ACCO, Financial), an Illinois-based manufacturer of office products, issued 4.25% senior notes to retire 5.25% debt coming due in 2024 and pay off some of its revolving credit facility. Though demand for ACCO's office products has been challenged in the Covid-related work-from-home environment, the company's focus on expense management has helped preserve its earnings and free cash flow.
From First Eagle Global Income Builder Fund's first-quarter 2021 commentary.
