Intertape Polymer to get new $250 million credit facility

By Sara Rosenberg

New York, July 1 - Intertape Polymer Group Inc. plans on getting a new $250 million senior secured credit facility in connection with a proposed $125 million senior subordinated notes offering from wholly owned, newly formed finance subsidiary Intertape Polymer US Inc., according to a company news release.

Proceeds from the credit facility and the bond deal will be used to repay an existing credit facility, redeem all three series of existing senior secured notes and pay related make-whole premiums, accrued interest and transaction fees.

Intertape Polymer Group is a Bradenton, Fla., developer and manufacturer of specialized polyolefin plastic and paper packaging products and complementary packaging systems.

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