International Road Dynamics Announces New Credit Facilities With HSBC Bank Canada

International Road Dynamics Announces New Credit Facilities With HSBC Bank 
Canada 
SASKATOON, SASKATCHEWAN -- (Marketwired) -- 01/22/14 -- International
Road Dynamics Inc. ("IRD" or the "Company") (TSX:IRD) announced that
it has arranged new credit facilities (the "Facilities") with HSBC
Bank Canada, replacing its current banking relationships in both
Canada and India. 
The terms of the new Facilities remain substantially unchanged from
the Company's current facilities which provide for a CDN $8.5 Million
demand revolving loan in support of the Company's North American
operations and two standby letters of credit issued in favor of HSBC
India. The first letter of credit for USD $1.5 Million in Indian
Rupee equivalent is issued as security for an operating line of
credit for the Company's India subsidiary and the second letter of
credit of CDN $1.25 is issued as security for bank performance
guarantees issued from time to time to meet project requirements in
the India market. Both letters of credit continue to be supported and
secured by Export Development Canada guarantee programs. 
"We are very pleased to be entering this new global relationship with
HSBC Bank Canada," commented Terry Bergan, IRD's President and CEO.
"With their international capacities and understanding, these new
Facilities provide IRD with enhanced flexibility and oversight over
our International operations as well as improving credit availability
and reducing financing costs." 
IRD is a highway traffic management technology company specializing
in supplying products and systems to the global Intelligent
Transportation Systems (ITS) industry. IRD is a North American
company based in Saskatoon, Saskatchewan Canada with sales and
service offices throughout the United States and overseas. Private
corporations, transportation agencies and highway authorities around
the world use IRD's products and advanced systems to manage and
protect their highway infrastructures. 
Additional information about IRD is available at www.sedar.com and
the Company's website at www.irdinc.com.  
The Company's shares trade on the Toronto Stock Exchange under the
symbol IRD.
Contacts:
International Road Dynamics Inc.
Terry Bergan
President & CEO
(306) 653-6600 
International Road Dynamics Inc.
Francine Senecal-Lepage
Investor Relations
(306) 653-6603
irdir@irdinc.com
www.irdinc.com
 
 
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