Canada-based specialty packaging solutions provider CCL Industries has announced the signing of an amended bilateral four-year revolving debt agreement with Bank of Montreal.
As part of the agreement, which replaces the one expiring in January 2013, CCL expanded the credit commitment from $95m to $200m and improved terms and conditions with a flexible structure to support the company’s initiatives worldwide.
The company also achieved competitive LIBOR interest rate margins, determined by a total net debt to EBITDA ratio, ranging from 75bps to 200bps.
The expiration date was extended by CCL to 11 July 2016.
CCL operates 71 production facilities globally located to meet the sourcing needs of large international customers.