IBEX pays off $25M convertible note from TRGI share repurchase using HSBC credit lines

IBEX Ltd

On Jan 9, 2025, IBEX paid in full the $25M convertible promissory note issued to TRGI on Nov 19, 2024.
The Seller Note was terminated following payment, eliminating potential dilution from conversion.
Payment funded through drawings on HSBC credit lines (HSBC Bank USA and HSBC Bank ME).
The original share repurchase on Nov 19, 2024 was 3,562,341 shares for $70M ($45M cash + $25M note).

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