IBI Group calls 5.5% convertibles due December 2021

By Rebecca Melvin

New York, Sept. 15 – IBI Group Inc. plans to redeem its 5.5% convertible debentures due Dec. 31, 2021 with proceeds of a new offering of debentures, according to a company news release.

The redemption is to be effective 30 days following the date of the redemption notice, which is expected to be issued imminently.

The company announced that it has privately placed C$22,825,000 of new 6.5% senior debentures due Dec. 31, 2025, together with C$17,175,000 of the same debentures publicly offered for a deal size of C$40 million.

The architecture and engineering firm is based in Toronto.

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