Checkpoint retires $55.6 million notes, terminates Prudential shelf

By Angela McDaniels

Tacoma, Wash., Dec. 16 - Checkpoint Systems, Inc. retired $55.6 million of senior secured notes maturing between 2015 and 2017 and terminated its note purchase and private shelf agreement with Prudential Investment Management, Inc., according to an 8-K filing with the Securities and Exchange Commission.

In connection with the termination, Checkpoint paid $7.3 million of make-whole fees.

The company said it terminated the agreement in connection with its entry into a new five-year $200 million multi-currency senior secured revolving credit facility on Wednesday.

Checkpoint Systems is a Thorofare, N.J.-based provider of loss prevention, inventory management and labeling solutions to the retail industry.

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