Artis REIT to redeem all C$29.92 million 6.25% convertibles due 2013

By Tali David

Minneapolis, Feb. 13 - Artis Real Estate Investment Trust plans to fully redeem its seven-year, 6.25% series C convertible redeemable unsecured subordinated debentures due May 31, 2013, according to a company release.

The redemption date is March 15.

The convertibles will be redeemed at C$1,018.116, equal to C$1,000 in principal amount plus accrued interest, the company said.

There are currently 29,920 debentures outstanding, totaling C$29.92 million.

Artis is a Winnipeg, Man.-based real estate investment trust focused on commercial properties, including office, industrial and retail space.

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