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Toronto’s Victoria Park transit station renovation by IBI Group has won several awards. Late last week, IBI announced its intention to rework the terms of some convertible debentures
Toronto’s Victoria Park transit station renovation by IBI Group has won several awards. Late last week, IBI announced its intention to rework the terms of some convertible debentures
(IBI Group)

Consent fee for debt refinancing causes concern

The incentives that companies use to encourage their investors to back debt refinancings are under the spotlight again, after a contentious consent fee was recently offered by a Canadian firm.

IBI Group Inc., which specializes in consulting on architecture and engineering projects, has asked investors who own some of its convertible debentures to consider extending their maturity date five years into the future. The converts in question are scheduled to mature on Dec. 31, 2014, and IBI hopes to move that date to 2019.