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Crombie Reit Announces Redemption of Outstanding 5.25% Series E Extendible Convertible Debentures Due March 31, 2021
Crombie Reit Announces Redemption of Outstanding 5.25% Series E Extendible Convertible Deb...
About this update from Crombie Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\nCrombie Reit Announces Redemption of Outstanding 5.25% Series E Extendible Convertible Debentures Due March 31, 2021\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\n\n\n\n\n\n\nCanada NewsWire\nNEW GLASGOW, NS, July 31, 2018\n\n\n\nNEW GLASGOW, NS, July 31, 2018 /CNW/ - Crombie Real Estate Investment Trust (\"Crombie\") (TSX: CRR.UN) announced today that it has exercised its right to redeem its 5.25% Series E Extendible Convertible Unsecured Subordinated Debentures maturing on March 31, 2021 (the \"Debentures\") in accordance with the terms of the supplemental trust indenture dated August 14, 2013, governing the Debentures.  The redemption of the Debentures will be effective on August 31, 2018 (the \"Redemption Date\").  Upon redemption, Crombie will pay to the holders of Debentures the redemption price (the \"Redemption Price\") equal to the outstanding principal amount of the Debentures to be redeemed, together with all accrued and unpaid interest thereon up to but excluding the Redemption Date, for a total of $1,022.01 per $1,000 principal amount of Debentures, less any taxes required to be deducted or withheld.  \n\nThe aggregate principal amount of Debentures currently outstanding is $74,400,000. Crombie intends to draw funds from its existing revolving line of credit to pay the Redemption Price of the redeemed Debentures.  The Debentures are listed for trading on the Toronto Stock Exchange under the trading symbol \"CRR.DB.E\" and may be converted in accordance with their terms into Units of Crombie until August 30, 2018.\n\nAbout Crombie \n\nCrombie Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust established under, and governed by, the laws of the Province of Ontario. Crombie is one of the country's leading national retail property landlords with a strategy to own, operate and develop a portfolio of high quality grocery and drug store anchored shopping centres, freestanding stores and mixed use developments primarily in Canada's top urban and suburban markets. \n\nThis news release may contain forwa...