IBI Group Announces Extension of Credit Facilities

TORONTO, Sept. 27, 2018 (GLOBE NEWSWIRE) -- IBI Group Inc. (the "Company") (TSX: IBG) is pleased to announce that the Company has entered into amended and restated credit facilities with its existing banking syndicate. The amendment and restatement extends the maturity date from June 30, 2021 to September 26, 2022.

The amended and restated credit facilities consist of a revolver facility, swing line facility and letter of credit facility. IBI intends to use the amended and restated credit facility for general corporate purposes, including working capital requirements. Under certain conditions, the repayment of convertible debentures indebtedness, is permitted under the terms of the facilities.

The availability of each credit facility is subject to compliance with certain financial, reporting and other covenants. Advances under the credit facilities bear interest at rates based on the Canadian dollar prime rate, US dollar base rate, LIBOR or CDOR plus, in each case, an applicable margin.

About IBI Group Inc.

IBI Group Inc. (TSX: IBG) is a globally integrated architecture, planning, engineering, and technology firm with over 2,500 professionals around the world. For more than 40 years, its dedicated professionals have helped clients create livable, sustainable, and advanced urban environments. IBI Group believes that cities must be designed with intelligent systems, sustainable buildings, efficient infrastructure, and a human touch. IBI Group is a lead partner of the Smart Cities Council North America. Follow on Twitter @ibigroup and Instagram @ibi_group.

SOURCE: IBI Group Inc.

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