Fasken advised GDI Integrated Facility Services in its US$25 million financing by means of a bought deal public offering of convertible debentures and subsequent over-allotment option

GDI completed its bought deal public offering of $25 million principal amount of convertible debentures and a subsequent over-allotment for aggregate gross proceeds of approximately $28 M. The proceeds are expected to be used to reduce indebtedness under GDI’s revolving credit facilities, providing GDI with additional flexibility to continue to pursue its strategic growth objectives. GDI entered into an underwriting agreement with National Bank Financial Inc., on behalf of a syndicate of underwriters, co-led with Desjardins Securities Inc. and GMP Securities L.P. pursuant to which the underwriters have agreed to purchase on a bought deal basis, $25,000,000 aggregate principal amount of convertible unsecured subordinated debentures at a price of $1,000 per $1,000 principal amount of Debentures. GDI granted the Underwriters an over-allotment option to purchase up to an additional $3,750,000 aggregate principal amount of debentures at the same price. GDI was advised by a team from Fasken Martineau that included Michel Boislard, Gabriel Castiglio, Caitlin Rose and Marie-Christine Valois (Securities).