LASALLE, QC, June 30, 2020 /CNW Telbec/ - GDI Integrated Facility Services Inc. (TSX: GDI) ("GDI") announces today that it has exercised its right to redeem its 5.00% convertible unsecured subordinated debentures maturing on December 31, 2021 (the "Debentures"). Subject to the terms of the indenture governing the Debentures (the "Indenture"), on July 30, 2020 (the "Redemption Date"), GDI will redeem all of the issued and outstanding Debentures, for an aggregate principal amount of $26,166,000, and will pay to the holders of redeemed Debentures, on redemption, a redemption price (the "Redemption Price") in cash equal to the principal amount of the Debentures, plus accrued and unpaid interest up to but excluding the Redemption Date, for a total of approximately $1,004.11 per $1,000 principal amount of Debentures. Following payment of the Redemption Price, there will remain no outstanding Debentures. GDI intends to use available cash to pay the Redemption Price of the redeemed Debentures.
Debentureholders are reminded that they have the right to convert their Debentures pursuant to Article 4 of the Indenture prior to the close of business on the business day immediately preceding the Redemption Date by duly completing the Conversion Notice (as such term is defined in the Indenture) and otherwise following the procedures prescribed by the Indenture.
GDI is a leading integrated commercial facility services provider which offers a range of services in Canada and the United States to owners and managers of a variety of facility types including office buildings, educational facilities, industrial facilities, healthcare establishments, stadiums and event venues, hotels, shopping centres, distribution facilities, airports and other transportation facilities. GDI's commercial facility services capabilities include commercial janitorial and building maintenance, the installation, maintenance and repair of HVAC-R, mechanical, electrical and building automation systems, as well as other complementary services such as janitorial products manufacturing and distribution. GDI's subordinate voting shares are listed on the Toronto Stock Exchange (TSX: GDI). Additional information on GDI can be found on its website at www.gdi.com.
Caution Concerning Forward-Looking Statements
Certain statements in this press release may constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to GDI's future outlook and anticipated events, business, operations, financial performance, financial condition or results and, in some cases, can be identified by terminology such as "may"; "will"; "should"; "expect"; "plan"; "anticipate"; "believe"; "intend"; "estimate"; "predict"; "potential"; "continue"; "foresee"; "ensure" or other similar expressions concerning matters that are not historical facts. Forward-looking statements are based on certain factors and assumptions including expected growth, results of operations, performance and business prospects and opportunities, which GDI believes are reasonable as of the current date. While management considers these assumptions to be reasonable based on information currently available to GDI, they may prove to be incorrect. It is impossible for GDI to predict with certainty the impact that the current economic uncertainties may have on future results. Therefore, future events and results may vary significantly from what management currently foresees. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While management may elect to, GDI is under no obligation and does not undertake to update or alter this information at any particular time, except as may be required by law.
SOURCE GDI Integrated Facility Services Inc.
For further information: Investors, Analysts and Media, David Hinchey, Senior Vice President, Strategic Development, Telephone: (514) 368-8690, ext. 282