By Laura Lutz
Columbus, Ohio, March 20 - Huntingdon Real Estate Investment Trust increased the size of its previously announced offering of series C convertible redeemable unsecured subordinated debentures to C$42 million from C$30 million.
The company also announced that the debentures will be convertible into trust units at C$3.05 per unit.
The debentures will carry a coupon of 7.5% and mature in five years.
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.
The deal originally priced on Feb. 16. Settlement is expected on March 29.
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$42 million
|
| Greenshoe: | For up to 15%
|
| Maturity: | Five years
|
| Coupon: | 7.5%
|
| Price: | Par
|
| Yield: | 7.5%
|
| Conversion price: | C$3.05
|
| Agent: | Blackmont Capital Inc. (lead)
|
| Pricing date: | Feb. 16
|
| Amended: | March 20
|
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