Brief: Intertape Polymer Group enters agreement to acquire Cantech and increases borrowing capacity by $150 mln

Baseline Productions

12/06/2017 13:00

June 12 (Reuters) - Intertape Polymer Group Inc  ITP.TO  
    * Intertape Polymer Group (ipg(r)) enters agreement to 
acquire cantech(r) and increases borrowing capacity by $150 
million 
    * Intertape Polymer Group Inc - purchase price will be 
financed with funds available under ipg's revolving credit 
facility 
    * Intertape Polymer Group Inc - announced a $150 million 
increase in borrowing limit of its existing $300 million 
revolving credit facility 
    * Intertape Polymer Group Inc - purchase price of 
approximately $63 million 
    * Intertape Polymer Group Inc - amended credit agreement 
will continue to include an incremental accordion feature of 
$150 million 
    * Intertape Polymer Group - expects to use additional credit 
primarily to finance cantech acquisition 
 
Source text for Eikon:  ID:nMKWB0YPza  
Further company coverage:  ITP.TO  
 
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