Checkpoint Systems completes $200 million revolving credit facility

By Sara Rosenberg

New York, Dec. 12 - Checkpoint Systems Inc. closed on a new $200 million five-year multi-currency revolving credit facility, according to a news release.

Bank of America Merrill Lynch, Fifth Third Bank and HSBC Bank acted as the joint lead arrangers on the deal.

The revolver has a $100 million accordion feature.

In connection with the new revolver, the company repaid all of the $62.4 million of borrowings under its prior revolver due July 2014 and $55.6 million of its senior secured notes maturing between 2015 and 2017.

"The successful execution of our new credit facility significantly reduces our borrowing costs, enhances our overall liquidity and ensures maximum operational flexibility to execute our strategic plan," said Jeff Richard, chief financial officer, in the release.

Checkpoint is a Thorofare, N.J.-based provider of end-to-end solutions enabling retailers to achieve accurate real-time inventory, accelerate the replenishment cycle, prevent out-of-stocks and reduce theft.

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