GDI completes redemption of 5% convertible debentures due 2021

By Taylor Fox

Chicago, July 30 – GDI Integrated Facility Services Inc. has completed the redemption of all of its outstanding 5% convertible unsecured subordinated debentures maturing Dec. 31, 2021, according to a news release.

Following the exercise of the company’s redemption right, holders of C$25,656,000 principal amount of debentures exercised their conversion right. In addition to certain cash interest payments and in lieu of fractional shares, 1,057,975 subordinated voting shares in the capital of GDI were issued.

GDI redeemed the remaining non-converted debentures totaling C$510,000 by paying the holders a redemption price in cash equal to the principal amount of the debentures, plus interest, for a total of approximately C$1,004.11 per C$1,000 debenture.

GDI is a LaSalle, Quebec-based commercial facilities provider.

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