TORONTO, ON--(Marketwired - September 20, 2016) - CCL Industries Inc. ("CCL") (TSX: CCL.A) (TSX: CCL.B), a world leader in specialty label and packaging solutions for global corporations, small businesses and consumers, announced today the closing of its offering of US$500 million aggregate principal amount of 3.25% notes due 2026. The notes will be CCL's unsecured senior obligations and will initially be guaranteed by CCL's wholly-owned subsidiaries, CCL Industries Corporation and CCL Industries (U.K.) Limited. CCL intends to use the net proceeds from the offering to repay amounts owed under its revolving credit facility.
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities. The notes were offered in a private placement in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and outside the United States only to non-U.S. investors pursuant to Regulation S under the Securities Act. The notes have not been registered under the Securities Act or the securities laws of any jurisdiction and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements.
This press release contains forward-looking information and forward-looking statements (hereinafter collectively referred to as "forward-looking statements"), as defined under applicable securities laws, that involve a number of risks and uncertainties. Forward-looking statements include all statements that are predictive in nature or depend on future events or conditions. Forward-looking statements in this press release include statements concerning the intended use of proceeds.
Forward-looking statements are not guarantees of future performance. They involve known and unknown risks and uncertainties relating to future events and conditions including, but not limited to, conditions in the world economy and capital markets; general economic and geopolitical conditions; fluctuations in currency exchange rates and interest rates; changes in credit availability; and unexpected expenses involved in the offering of the notes. Do not unduly rely on forward-looking statements as the Company's actual results could differ materially from those anticipated in these forward-looking statements. Forward-looking statements are also based on a number of assumptions, which may prove to be incorrect, including, but not limited to, assumptions about the following: global economic recovery; the continued availability of capital; fluctuations of currency exchange rates and interest rates; and general business, economic and capital market conditions. Should one or more risks materialize or should any assumptions prove incorrect, then actual results could vary materially from those expressed or implied in the forward-looking statements. Further details on key risks can be found in the Management's Discussion and Analysis section of CCL's 2015 Annual Report, particularly under Section 4: "Risks and Uncertainties." CCL's annual and quarterly reports can be found online at www.sedar.com or are available upon request.
The forward-looking statements are provided as of the date of this press release and the Company does not assume any obligation to update or revise the forward-looking statements to reflect new events or circumstances, except as required by law.
CCL Industries employs more than 19,000 people operating 150 production facilities in 35 countries on 6 continents with corporate offices in Toronto, Canada and Framingham, Massachusetts. CCL Label is the world's largest converter of pressure sensitive and extruded film materials for a wide range of decorative, instructional and functional applications for large global customers in the consumer packaging, healthcare and chemicals, consumer durable, electronic device and automotive markets. Extruded and laminated plastic tubes, folded instructional leaflets, precision decorated and die cut components, electronic displays and other complementary products and services are sold in parallel to specific end-use markets. Avery is the world's largest supplier of labels, specialty converted media and software solutions to enable short-run digital printing in businesses and homes alongside complementary products sold through distributors and mass market retailers. Checkpoint is a leading manufacturer of radio frequency based hardware, software and labeling solutions, including RFID, for loss prevention, inventory management, branding and merchandising applications for global retail and apparel customers. CCL Container is a leading producer of impact extruded aluminum aerosol cans and bottles for consumer packaged goods customers in the United States and Mexico. CCL partly backward integrates into materials science with capabilities in polymer extrusion, adhesive development and coating, surface engineering and metallurgy that are deployed across all four business segments.