Huntingdon C$6.3 million greenshoe lifts 7.5% convertibles to C$48.3 million

By Jennifer Chiou

New York, April 5 - Huntingdon Real Estate Investment Trust said that its over-allotment option of 15% of the issue amount, or C$6.3 million, was exercised in full, lifting its issue of series C convertible redeemable unsecured subordinated debentures to C$48.3 million.

The debentures carry a coupon of 7.5% and mature in five years.

On March 20, the company increased the size of its offering to C$42 million from C$30 million.

The company also previously announced that the debentures will be convertible into trust units at C$3.05 per unit.

The offering was made through a syndicate of agents led by Blackmont Capital Inc.

The deal originally priced on Feb. 16.

Proceeds will be used for future acquisitions of income-producing properties and for working capital and general corporate purposes.

Based in Winnipeg, Man., Huntingdon is a real estate company focused on commercial and industrial properties.

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