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BRIEF-Intertape Polymer Group enters agreement to acquire Cantech and increases borrowing capacity by $150 mln
June 12, 2017 / 12:23 PM / a month ago

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

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June 12 (Reuters) - Intertape Polymer Group Inc

* 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: Further company coverage:

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