By Devika Patel
Knoxville, Tenn., Sept. 3 - Plazacorp Retail Properties Ltd. said it will sell C$5 million of convertible debentures.
The 8% debentures mature Oct. 14, 2014. They are convertible into common shares at C$3.40 per share. They may be redeemed after Oct. 14, 2012.
Proceeds will be used to finance future acquisitions, to retire existing debt and for general corporate purposes.
Based in Fredericton, N.B., Plazacorp develops real estate properties focused on shopping malls and strip plazas.
| Issuer: | Plazacorp Retail Properties Ltd.
|
| Issue: | Convertible debentures
|
| Amount: | C$5 million
|
| Maturity: | Oct. 14, 2014
|
| Coupon: | 8%
|
| Price: | Par
|
| Yield: | 8%
|
| Conversion price: | C$3.40
|
| Call: | After Oct. 14, 2012
|
| Warrants: | No
|
| Pricing date: | Sept. 3
|
| Stock symbol: | TSX Venture: PLZ
|
| Stock price: | C$3.00 at close Sept. 2
|
| Market capitalization: | C$144 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
