CCL Industries completes US$500M note offering

On September 20, 2016, CCL Industries Inc., a world leader in specialty label and packaging solutions for global corporations, small businesses and consumers, completed a private placement offering of US$500 million aggregate principal amount 3.25 per cent notes due 2026. Merrill Lynch, Pierce, Fenner & Smith Inc. and Scotia Capital (USA) Inc. acted in their capacity as as joint book-running managers for the initial purchasers of the notes.

The net proceeds of the note offering will be applied by CCL to repay amounts owed under its revolving credit facility.

CCL was represented in Canada by McMillan LLP with a team that included Paul Collins (securities) and Eric Friedman (financial services) and in the US by Warner Norcross & Judd LLP with a team that included Charlie Goode (securities), Mark Wassink (financial services), Emily Cantor (corporate) and Corinne Sprague (corporate) and by Hodgson Russ LLP with a team led by Joseph McKernan. Addleshaw Goddard LLP acted as UK counsel to CCL Industries (UK) Ltd. with a team comprising Richard Lee, Richard Chandler and Michael McDonald.

The initial purchasers were represented in the US by Shearman & Sterling LLP with a team including Jason Lehner, Ana Aur, Joanna Enns and Minkyu Park.

The initial purchasers were represented in Canada by Davies Ward Phillips & Vineberg LLP with a team comprising Anthony Spadaro and Aaron Atin.