Dundee REIT to redeem all C$133.71 million of four convertible series

By Tali David

Minneapolis, Nov. 27 - Dundee REIT plans to redeem all of its outstanding 6.5% convertible unsecured subordinated debentures, series 2005-1 5.7% convertible unsecured subordinated debentures, 6% convertible unsecured subordinated debentures and 7% series G convertible unsecured subordinated debentures, according to a press release.

The total principal amount currently outstanding is C$133,712,000.

The debentures will be redeemed at par plus accrued interest on Dec. 31.

Dundee REIT said it plans to use cash on hand to pay the redemption price.

Computershare Trust Co. of Canada is the indenture trustee for the 6.5% debentures, the 5.7% debentures and the 6% debentures, while BNY Trust Co. of Canada is the indenture trustee for the 7% debentures.

Dundee is a Toronto-based business premises real estate investment trust.

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