Alaris Equity Partners Announces $75 Million Bought Deal Offering of 6.50% Convertible Unsecured Senior Debentures

About this update from Alaris Equity Partners Income Trust Trust Units Reg S 3c7

[{"type":"text","content":"Alaris Equity Partners Announces $75 Million Bought Deal Offering of 6.50% Convertible Unsecured Senior Debentures\n\n\n\n\n NOT FOR DISTRIBUTION IN THE UNITED STATES.\n \n\n\n FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW\n \n\n\n CALGARY, Alberta, May 13, 2025 (GLOBE NEWSWIRE) -- Alaris Equity Partners Income Trust (“\n \n Alaris\n \n ” or the “\n \n Trust\n \n ”) (TSX: AD.UN) is pleased to announce that it has entered into an agreement with a syndicate of underwriters (the “\n \n Underwriters\n \n ”) led by National Bank Financial, CIBC Capital Markets and Desjardins Capital Markets, and including Acumen Capital Partners, Raymond James Ltd., RBC Capital Markets, Scotiabank, and Cormark Securities Inc. pursuant to which the Underwriters have agreed to purchase $75.0 million aggregate principal amount of convertible unsecured senior debentures due June 30, 2030 (the “\n \n Debentures\n \n ”) at a price of $1,000 per Debenture (the “\n \n Offering\n \n ”). The Trust has also granted the Underwriters an option to purchase up to an additional $11.25 million aggregate principal amount of Debentures, on the same terms and conditions, exercisable in whole or in part, up to 30 days following closing of the Offering. The Offering is expected to close on or about June 2, 2025 (the “\n \n Closing Date\n \n ”). Unless otherwise stated, all numbers in this press release are presented in Canadian dollars.\n \n\n The Trust intends to use the net proceeds of the Offering to partially repay outstanding indebtedness under Alaris’ subsidiary’s senior debt facility (the “\n \n Senior Debt Facility\n \n ”) which may be subsequently redrawn and used to fund future investments in new Partner (as defined below) investments or general trust purposes.\n \n\n The Debentures will bear interest at a rate of 6.50% per annum, payable semi-annually in arrears on the last business day of June and December of each year commencing on December 31, 2025. The first payment will include accrued and unpaid interest for the period from the Closing Date to, but excluding, December 31, 2025. The Debentures will mature on June 30, 2030 (the “\n \n Maturity Date\n \n ”).\n \n\n The Deb...

More updates from Alaris Equity Partners Income Trust Trust Units Reg S 3c7