TORONTO, June 01, 2020 (GLOBE NEWSWIRE) — 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$600 million aggregate principal amount of 3.050% notes due 2030. 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 proceeds from the offering to repay amounts owed under its revolving credit facility and for general corporate purposes.
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.Forward-looking StatementsThis 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, the adverse impact of the novel coronavirus COVID-19 pandemic on our business, employees, customers and suppliers and on the global economy and financial 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 CCL’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: 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 2019 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 CCL does not assume any obligation to update or revise the forward-looking statements to reflect new events or circumstances, except as required by law.Business DescriptionCCL Industries Inc. employs approximately 22,300 people operating 183 production facilities in 42 countries with corporate offices in Toronto, Canada, and Framingham, Massachusetts. CCL is the world’s largest converter of pressure sensitive and specialty extruded film materials for a wide range of decorative, instructional, functional and security applications for government institutions and large global customers in the consumer packaging, healthcare & chemicals, consumer electronic device and automotive markets. Extruded & laminated plastic tubes, aluminum aerosols & specialty bottles, folded instructional leaflets, precision decorated & die cut components, electronic displays, polymer banknote substrate 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 for short-run digital printing applications for businesses and consumers available alongside complementary products sold through distributors, mass market stores and e-commerce retailers. Checkpoint is a leading developer of RF and RFID based technology systems for loss prevention and inventory management applications, including labeling and tagging solutions, for the retail and apparel industries worldwide. Innovia is a leading global producer of specialty, high performance, multi-layer, surface engineered films for label, packaging and security applications. The Company is partly backward integrated into materials science with capabilities in polymer extrusion, adhesive development, coating & lamination, surface engineering and metallurgy; deployed as needed across the four business segments.
Bay Street News