OREANDA-NEWS. January 06, 2016. CCL Industries Inc. ("CCL") has signed a five-year bank syndication agreement, expanding and enhancing the agreement expiring in 2017, with a seven-bank syndicate once again led by the Bank of Montreal, as the company said in the press release.

CCL increased its total revolving commitment to \\$1.2 billion, rolling its current revolving and non-revolving commitments of CDN\\$300 million and US\\$292 million, respectively, into the amended facility.

Geoffrey T. Martin, President and CEO of CCL, said, "Given our 4Q acquisitions of Sennett Security Products LLC and Worldmark Ltd. for aggregate proceeds of approximately \\$300 million, the Company required additional borrowing capacity to repay the \\$110 million of senior notes coming due early in 2016 and provide the Company with the capability to fund its next phase of growth in the coming years. We appreciate the continued support and confidence in CCL's vision from the entire bank syndicate."

CCL Industries Inc. is a world leader in specialty label and packaging solutions for global corporations, small businesses and consumers.