Brief: Richards Packaging Income Fund Acquires Clarion Medical Technologies

Richards

01/06/2020 12:13

June 1 (Reuters) - Richards Packaging Income Fund
 RPI_u.TO :
    * RICHARDS PACKAGING INCOME FUND ANNOUNCES ACQUISITION OF
CLARION
MEDICAL TECHNOLOGIES
    * RICHARDS PACKAGING INCOME FUND - ACQUISITION OF CLARION
MEDICAL
TECHNOLOGIES FOR $64.4 MILLION
    * RICHARDS PACKAGING INCOME FUND - DEAL FINANCED BY $35
MILLION
INCREASE TO TERM CREDIT, $2.9 MILLION DRAW DOWN ON REVOLVING
CREDIT
    * RICHARDS PACKAGING INCOME FUND -DEAL ALSO FINANCED BY $16
MILLION OF CASH ON HAND AND $10.5 MILLION HOLDBACK FROM VENDORS
    * RICHARDS PACKAGING INCOME FUND - GIVEN CURRENT ECONOMIC
ENVIRONMENT, IT IS UNCLEAR WHETHER ACQUISITION WILL BE ACCRETIVE
TO EARNINGS IN 2020

Source text for Eikon:  ID:nCNWf4LhDa 
Further company coverage:  RPI_u.TO 

 ((Reuters.Briefs@thomsonreuters.com;))