By Lisa Kerner
Charlotte, N.C., July 22 - Checkpoint Systems, Inc. issued $25 million of five-year series A senior secured notes, $25 million of six-year series B senior secured notes and $25 million of seven-year series C senior secured notes under a note purchase and private shelf agreement, according to a company news release.
The company also amended the terms of its existing $125 million senior secured multi-currency revolving credit facility, dated April 30, 2009, to extend the term of the credit facility, reduce the interest rates charged on the outstanding balances and make favorable changes regarding the collateral provided under the company's credit agreement.
"Our ability to amend our credit facility at reduced rates and extended terms and the note placement is a positive reflection on the financial strength of Checkpoint," chairman, president and chief executive officer Rob van der Merwe said in the release.
Checkpoint Systems is a Thorofare, N.J.-based manufacturer and provider of end-to-end shrink management, supply chain visibility and labeling services to the retail and apparel industry.
| Issuer: | Checkpoint Systems, Inc.
|
| Issue: | Senior secured notes
|
| Amount: | $75 million
|
| Announcement date: | July 22
|
| Distribution: | Private shelf
|
|
|
| Series A notes
|
| Amount: | $25 million
|
| Maturity: | Five years
|
|
|
| Series B notes
|
| Amount: | $25 million
|
| Maturity: | Six years
|
|
|
| Series C notes
|
| Amount: | $25 million
|
| Maturity: | Seven years
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
