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American Hotel Income Properties Reit LP Completes Bought Deal of US $50 Million of Convertible Debentures
American Hotel Income Properties Reit LP Completes Bought Deal of US $50 Million of Conve...
About this update from American Hotel Income Properties Reit Lp
[{"type":"text","content":"\n \n \n \n American Hotel Income Properties Reit LP Completes Bought Deal of US $50 Million of Convertible Debentures\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n /NOT FOR DISTRIBUTION IN\n \n THE UNITED STATES\n \n OR OVER\n \n UNITED STATES\n \n WIRE SERVICES/\n \n \n \n VANCOUVER, BC\n \n ,\n \n Nov. 26, 2021\n \n /CNW/ - American Hotel Income Properties REIT LP (\"\n \n AHIP\n \n \", or the \"\n \n Company\n \n \") (TSX: HOT.UN) (TSX: HOT.U) (TSX: HOT.DB.U) (TSX: HOT.DB.V) announced today the completion of its previously announced public offering (the \"\n \n Offering\n \n \") on a bought deal basis of\n \n US$50 million\n \n aggregate principal amount of 6.00% convertible unsecured subordinated debentures due on\n \n December 31, 2026\n \n (the \"\n \n Debentures\n \n \").\n \n \n The Debentures will commence trading today on the Toronto Stock Exchange (the \"\n \n TSX\n \n \") under the symbol HOT.DB.V.\n \n \n The Offering was conducted through a syndicate of underwriters co-led by CIBC Capital Markets and BMO Capital Markets, and included Canaccord Genuity Corp., TD Securities Inc., National Bank Financial Inc., RBC Capital Markets, Scotiabank and iA Private Wealth Inc. AHIP has also granted the underwriters an over-allotment option to purchase up to an additional\n \n US$5 million\n \n aggregate principal amount of Debentures exercisable in whole or in part for a period of 30 days following closing of the Offering to cover over-allotments, if any, and for market stabilization purposes.\n \n \n As described in AHIP's prospectus dated\n \n November 22, 2021\n \n which is available on SEDAR at\n \n www.sedar.com\n \n (the \"\n \n Prospectus\n \n \"), AHIP intends to use the net proceeds of the Offering, together with cash on hand, to fund the intended redemption of all of the Company's outstanding convertible unsecured subordinated debentures due on\n \n June 30, 2022\n \n , with an aggregate principal outstanding of\n \n US$48,875,000\n \n , listed on the TSX under the trading symb...