The Financial Post reports in its Tuesday edition that a group of lenders led by Bank of Montreal has postponed a $1.1-billion (U.S.) loan sale that was to help finance HIG Capital LLC's planned purchase of Canadian company Converge Technology Solutions Corp. The lenders agreed to underwrite the debt earlier this year, when HIG announced it planned to merge portfolio company Mainline Information Systems Inc. with Converge. The combined company would be called Cardinal. The loan sale had struggled to attract demand. A representative for BMO declined to comment, while HIG and Converge were not immediately available to comment. Investors have shied away from risky debt offerings in recent days as U.S. President Donald Trump's tariff plan has stoked recession fears and sent risk assets plunging. Converge closed Monday at $5.95, down one cent on the Toronto Stock Exchange.
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