By Sheri Kasprzak
Atlanta, Jan. 12 - AVR Debenture Corp. has closed a private placement for $2,944,000.
The company issued units made up of one limited partnership unit of AVR and one debenture for $8,000.
The debenture matures on Nov. 30, 2014 and bears interest at 6% annually.
The proceeds from the deal were advanced to Abbey Vista Ridge LP as a loan to fund the indirect acquisition of a 300-unit apartment complex in Texas.
AVR is a subsidiary of Knightswood Financial Corp. Knightswood, based in Vancouver, B.C., provides financing to agriculture and personal finance businesses.
| Issuer: | AVR Debenture Corp.
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| Issue: | Units of one limited partnership and one debenture of $8,000
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| Amount: | $2,944,000
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| Maturity: | Nov. 30, 2014
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| Coupon: | 6%
|
| Price: | Par
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| Yield: | 6%
|
| Warrants: | No
|
| Settlement date: | Jan. 11
|
| Stock price: | C$0.20 at close Jan. 7 (last trade for Knightswood)
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