Checkpoint Systems Inc., in the Thorofare section of West Deptford, announced Thursday it has entered into a new five-year $200 million multi-currency revolving credit facility with the potential to further expand the facility to $300 million.
According to the announcement, the syndicate of lenders was anchored by joint lead arrangers, Bank of America Merrill Lynch, Fifth Third Bank and HSBC Bank USA National Association. Bank of America N.A. will serve as administrative agent for this facility. In connection therewith, Checkpoint repaid all outstanding amounts under its existing $62.4 million revolving credit facility due to mature in July 2014 and $55.6 million in aggregate of its senior secured notes maturing between 2015 and 2017.
The company named Jeff Richard chief financial officer in May.