By Laura Lutz
Des Moines, June 27 - First Capital Realty Inc. arranged a C$50 million private placement of convertible unsecured subordinated debentures.
The 5.5% debentures were priced at 107. They will mature on Sept. 30, 2017.
They convert at C$27, stepping up to C$28 after five years.
The debentures will have the same terms as the debentures offered by the company on Dec. 19, 2005.
Gazit Canada Inc. subscribed for C$49 million.
RBC Capital Markets is the lead agent.
Settlement is expected on June 29.
Toronto-based First Capital operates shopping centers.
| Issuer: | First Capital Realty Inc.
|
| Issue: | Convertible unsecured subordinated debentures
|
| Amount: | C$50 million
|
| Maturity: | Sept. 30, 2017
|
| Coupon: | 5.5%
|
| Price: | 107
|
| Conversion price: | C$27 until Dec. 31, 2011; C$28 after that
|
| Agent: | RBC Capital Markets (lead)
|
| Investor: | Gazit Canada Inc. (for C$49 million)
|
| Pricing date: | June 27
|
| Settlement date: | June 29
|
| Stock symbol: | Toronto: FCR
|
| Stock price: | C$25.20 at close June 27
|
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