By Laura Lutz
Washington, Feb. 16 - Huntingdon Real Estate Investment Trust priced an issue of up to C$30 million principal amount of series C convertible redeemable unsecured subordinated debentures.
The debentures will carry a coupon of 7.5% and mature in five years.
The conversion and call features of the debentures were not announced.
The offering will be made through a syndicate of agents led by Blackmont Capital Inc. The agents have a greenshoe for up to 15% of the offering size.
Proceeds will be used for future acquisitions of income-producing properties and for working capital and general corporate purposes.
Based in Winnipeg, Manitoba, Huntingdon is a real estate company focused on commercial and industrial properties.
| Issuer: | Huntingdon Real Estate Investment Trust
|
| Issue: | Series C convertible redeemable unsecured subordinated debentures
|
| Amount: | C$30 million
|
| Greenshoe: | For up to 15%
|
| Maturity: | Five years
|
| Coupon: | 7.5%
|
| Price: | Par
|
| Yield: | 7.5%
|
| Agent: | Blackmont Capital Inc. (lead)
|
| Pricing date: | Feb. 16
|
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