First Capital Realty calls C$161.7 million 7.25% convertibles

By Caroline Salls

Pittsburgh, Feb. 16 - First Capital Realty Inc. said it will redeem its C$161.7 million outstanding 7.25% convertible unsecured subordinated debentures on March 31 by the issuance of common shares plus accrued interest.

The number of common shares to be issued per C$100 principal amount will be calculated by dividing the dollar amount payable by 95% of the weighted-average trading price of the common shares on the Toronto Stock Exchange for the 20 consecutive trading days ending on March 23.

First Capital is a Toronto-based owner, developer and operator of neighborhood and community shopping centers.

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