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BTB REIT Announces Repayment of Series G Convertible Debentures
BTB REIT Announces Repayment of Series G Convertible Debentures Canada NewsWire ...
About this update from Btb Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\n BTB REIT Announces Repayment of Series G 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.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prngen3{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n MONTRÉAL\n \n ,\n \n\n Oct. 1, 2024\n \n\n /CNW/ - BTB Real Estate Investment Trust (TSX: BTB.UN) (\"\n \n BTB\n \n \" or the \"\n \n REIT\n \n \") advises the holders of Series G 6.00% convertible unsecured subordinated debentures (the \"\n \n Debentures\n \n \") that it will repay its Debentures in cash upon maturity, being\n \n October 31, 2024\n \n (the \"\n \n Maturity Date\n \n \").\n \n\n\n\n\n\n\n\n\n The REIT shall deposit with Computershare Trust of\n \n Canada\n \n (the \"\n \n Trustee\n \n \") an amount sufficient to repay the principal amount of the Debentures, together with accrued interest thereon up to but excluding the Maturity Date. Payment of the Debentures will be processed by the Trustee.\n \n\n \"In an effort to reduce the interest costs on our indebtedness, we choose to optimize our mortgage debt at the property-level to generate sufficient proceeds to repay entirely the Debentures and accrued interest thereon at their maturity\", says Michel Léonard, President and Chief Executive Officer. \"This strategy is leverage-neutral and enables us to achieve a weighted-average interest cost significantly below the cost we would have incurred by issuing a new convertible debenture.\"\n \n\n For further details, please refer to the Maturity Notice included in the appendix.\n \n\n About BTB\n \n\n BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB REIT invests in industrial, suburban ...