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IBI Group Inc T.IBG.DB.E

Industrials
IBI Group Inc. is a global design and technology company. The Company offers a range of services, including architectural controls, architecture, bridge engineering, civil engineering, construction management, data analytics, design technology, development engineering, economics/financial analysis, electrical engineering, energy solutions, engineering, environmental assessment, geomatics/land surveying, highway and road design, and indigenous engagement and relations. The Company¿s services also include interiors, land use planning, landscape architecture, mechanical engineering, municipal infrastructure, operations and maintenance, parametric design, placemaking, planning and urban design, public outreach, research and development, software development, systems engineering, traffic engineering, transit planning, transportation engineering, visualization, water resources management, and water/wastewater. The Company has over 60 offices in major urban centers across the globe.


TSX:IBG.DB.E - Post by User

IBI Group Inc
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Comment by nkbourbakion Nov 17, 2015 8:08pm
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Post# 24299158

RE:RE:analyst updates

RE:RE:analyst updates
Calgaryrider wrote: NK, also, note, during the conf. call they clearly stated that they'd be using the line of credit to pay down the DEBS because the rate was supurior (lower) than the cost of all series.  They didn't specifically say what the rate was, but it's clearly a LOT better than it was when IBI was on the ropes.  Now, I'm sure it's a floating rate based on LIBOR, but still.....


I haven't yet listened to the call but did note that the series A redemption was to be funded by the LOC.  What's more striking (to me) than the interest rate differential is the fact that the bank is okay with the plan.  I assume that paying off such a significant amount of junior debt using senior debt is something that must have been discussed with the senior lenders (?), and it's good to see that they were able to arrive at a refinancing arrangement that allowed this flexibility.

Still confused as to why they didn't attempt a tender offer or market repurchases before announcing redemption of the A's.  Based on recent trading it seems they could have cleared away several million $ of all series at significant discounts to par.  

As for the rights offering:   The record date is Nov 19, so wasn't yesterday the last day to buy shares and be entitled to rights (since it takes 3 days for trades to settle)?





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