Intertape Polymer to redeem 7% notes due 2026 with new notes proceeds

By Rebecca Melvin

Concord, N.H., May 17 – Intertape Polymer Group Inc. plans to use the net proceeds from an offering of $350 million of new senior notes due 2029 to redeem its existing $250 million of 7% senior notes due Oct. 15, 2026, according to a company news release.

Intertape is also using the proceeds of the new notes to repay a portion of borrowings outstanding under its five-year $600 million credit facility and to pay related fees and expenses, as well as for general corporate purposes.

The new notes are being offered to institutional buyers under Rule 144A and Regulation S.

The developer and manufacturer of specialized polyolefin plastic and paper-based packaging products and complementary packaging systems for industrial and retail use has headquarters in Montreal and Sarasota, Fla.

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