/EINPresswire.com/ -- TORONTO, ONTARIO--(Marketwired - Jul 4, 2017) - 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 syndicate now also includes one additional new bank. Pursuant to the amendment and restatement, the Company's credit facilities have been increased to $130 million and the maturity date set at June 30, 2021.

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 terms of the amended and restated credit facilities provide IBI with additional financial flexibility, and remove or modify certain covenants including removing the requirement to maintain a sinking fund.

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 a rate based on the Canadian dollar prime rate or US dollar base rate 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.