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


Monday, 12 Jun 2017 08:00am EDT 

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. 

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