By Sheri Kasprzak
New York, June 2 - Plazacorp Retail Properties Ltd. intends to raise C$5 million in a private placement of convertible debentures.
The 7% debentures mature July 31, 2011 and are convertible into common shares at C$4.00 each.
Plazacorp may redeem the debentures after June 30, 2009.
Proceeds will be used for acquisitions, debt retirement and 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
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| Amount: | C$5 million
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| Maturity: | July 31, 2011
|
| Coupon: | 7%
|
| Price: | Par
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| Yield: | 7%
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| Conversion price: | C$4.00
|
| Call: | Redeemable after June 30, 2009
|
| Warrants: | No
|
| Pricing date: | June 2
|
| Stock symbol: | TSX Venture: PLZ
|
| Stock price: | C$3.10 at close June 2
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