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First Capital Realty to redeem remaining 5.5% convertibles due 2017
By Tali David
Minneapolis, Jan. 6 - First Capital Realty Inc. will redeem the remaining C$19.9 million of both classes of its 5.5% convertible subordinated debentures due Sept. 30, 2017, according to a company press release.
The debentures will be redeemed at par plus accrued interest on Feb. 15.
The redemption amount will be paid in common shares. The number of shares will equal the amount of principal and interest payable divided by 97% of the volume-weighted average trading price of the shares for the 20 trading days ending on the fifth trading day before the redemption date.
Holders can continue to convert their debentures at the conversion price of C$17.031 through Feb. 14.
Toronto-based First Capital owns and develops supermarket-anchored community shopping centers.
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