First Capital greenshoe exercised, lifting convertibles to C$57.5 million

By Devika Patel

Knoxville, Tenn., Aug. 9 - First Capital Realty Inc. said the underwriters of its recent offering of 5.25% convertible unsecured subordinated debentures exercised the C$7.5 million greenshoe in full, raising the bought-deal public sale to C$57.5 million.

The original C$50 million of debentures priced on July 28 with a 42.5% initial conversion premium.

The deal was underwritten by a syndicate co-led by RBC Dominion Securities Inc. and TD Securities Inc. and included CIBC World Markets Inc., Scotia Capital Inc., National Bank Financial Inc., BMO Nesbitt Burns Inc., Canaccord Genuity Corp. and Macquarie Capital Markets Canada Ltd.

The debentures are conditionally approved for listing on the Toronto Stock Exchange under the symbol FCR.DB.F.

Proceeds will be used for development and redevelopment activities, acquisitions and general corporate purposes.

Toronto-based First Capital owns and develops supermarket-anchored community shopping centers.

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