IBI Income Fund Announces the Extension of its Credit Facility
Toronto, September 1 2009 - IBI Income Fund (the "Fund") (TSX:IBG.UN) announced today that it has amended its credit facility, increasing the amount from $100 million to $150 million, as well as extending the term to August 31, 2012.
The amended credit facility is being made available by a syndicate of financial institutions led by The Toronto-Dominion Bank as administrative agent and arranger, together with Bank of Montreal, Canadian Imperial Bank of Commerce and National Bank of Canada.
About the IBI Income Fund
The Fund holds an indirect 72% interest in IBI Group, a partnership which provides professional services, including planning, design, implementation, analysis of operations and other consulting services in relation to four main areas of development, being urban land, building facilities, transportation networks and systems technology. The remaining 28% of IBI Group, represented by Class B Units, is owned by IBI Group Management Partnership. On a fully diluted basis, IBI Group Management Partnership has a 46% interest in the Fund.
There are currently 12,738,146 Fund Units and 5,025,778 Class B Units issued and outstanding. All of the Class B Units are owned by IBI Group Management Partnership. The Class B Units of IBI Group are exchangeable, on a one-for-one basis, for Fund Units.
The Fund is a TSX listed income trust, which pays monthly distributions and trades under the symbol "IBG.UN". Holders of units who are non-residents of Canada will be required to pay all withholding taxes payable in respect of any distributions of income by the Fund.
For further information, please contact:
Allan J. Kamerman
IBI Income Fund
230 Richmond Street West, 5th Floor
Toronto, ON M5V 1V6
Tel: 416-596-1930
Fax: 416-596-8024
IBI Income FundCurrent Price |