SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of July, 2004
Commission File Number 1-10928
INTERTAPE POLMER GROUP INC.
110E Montee de Liesse, St. Laurent, Quebec, Canada, H4T 1N4
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.
Form 20-F Form 40-F X
Indicate by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(1): __________
Indicate by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(7): __________
Indicate by check mark whether by furnishing the information contained in
this Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b): 82-______
The Information contained in this Report is incorporated by reference into
Registration Statement No. 333-109944
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
INTERTAPE POLYMER GROUP INC.
Date: July 29, 2004 By: /s/Victor DiTommaso
Victor DiTommaso, Vice President Finance
NYSE SYMBOL: ITP
TSX SYMBOL: ITP
NYSE SYMBOL: ITP
TSX SYMBOL: ITP
Intertape Polymer US Inc., a Wholly-Owned Finance Subsidiary of Intertape
Polymer Group Inc., Completes Offering of $125 Million of Senior Subordinated
Notes Due 2014
Bradenton, Florida, July 28, 2004 Intertape Polymer Group Inc. today announced
that its wholly-owned, newly-formed finance subsidiary, Intertape Polymer US
Inc., completed the offering of $125 million of senior subordinated notes due
2014 to institutional investors in an offering exempt from the registration
requirements of the Securities Act of 1933. The notes have been guaranteed
on a senior subordinated basis by Intertape Polymer Group Inc. and all of its
subsidiaries.
Interest will accrue and be payable semi-annually in arrears on February 1 and
August 1 of each year, commencing on February 1, 2005 at an interest rate of
8 1/2% per annum.
A portion of the proceeds from the offering was used to repay an existing credit
facility. The remaining balance of the proceeds, together with expected
borrowings under a new $275 million senior secured credit facility, will be
used to redeem all three series of existing senior secured notes, pay related
make-whole premiums, accrued interest and transaction fees, and for general
working capital purposes. The new senior secured credit facility is expected
to fund upon the redemption of the existing senior secured notes.
The senior subordinated notes have been offered in the United States only to
qualified institutional buyers and outside the United States pursuant to
Regulation S under the Securities Act of 1933. The senior subordinated notes
have not been registered under the Securities Act of 1933 and may not be offered
or sold in the United States except pursuant to an effective registration
statement under the Securities Act of 1933 or in accordance with an applicable
exemption from the registration requirements of the Securities Act of 1933.
This press release shall not constitute an offer to sell or a solicitation of
an offer to buy such securities. In addition, the senior subordinated notes
have not been offered or sold, directly or indirectly, in Canada or to or for
the benefit of any resident of Canada, except pursuant to applicable exemptions
from the registration and prospectus requirements of applicable Canadian
securities laws.
Certain statements in this news release that refer to future events or other
non-historical facts are forward-looking statements as defined in the Private
Securities Litigation Reform Act of 1995. These forward-looking statements
are based on assumptions believed by management of Intertape to be
reasonable; however, they are inherently uncertain and difficult to predict.
Such forward-looking statements involve risks and uncertainties. Should
one or more of the these risks or uncertainties materialize, or should
underlying assumptions or estimates prove incorrect, actual results may
vary materially from those described herein as expected, intended, estimated,
anticipated, believed or predicted.
SOURCE: Intertape Polymer Group Inc.
CONTACT: Melbourne F. Yull
Chairman and Chief Executive Officer
Intertape Polymer Group Inc.
Tel.: 866-202-4713
E-mail: itp$info@intertapeipg.com
Web: www.intertapepolymer.com