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DRI Healthcare Trust Announces Closing of Preferred Securities Refinancing
DRI Healthcare Trust Announces Closing of Preferred Securities Refinancing Canada NewsWir...
About this update from Dri Healthcare Trust
[{"type":"text","content":"\n\n\nDRI Healthcare Trust Announces Closing of Preferred Securities Refinancing\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\nCanada NewsWire\n\n\nTORONTO, March 20, 2026 /CNW/ - DRI Healthcare Trust (TSX: DHT.UN) (TSX: DHT.U) (\"DRI Healthcare\") is pleased to announce that it has successfully completed the closing of the previously announced private placement offering of convertible unsecured subordinated debentures (the \"Debentures\") in the aggregate principal amount of C$108,723,000.\n\n\n\n\n\n\n\nThe principal sum of the Debentures bear interest at the rate of 5.75% per annum, payable semi-annually in arrears, and mature on February 28, 2031. The Debentures will be convertible at the option of the holder into units of DRI Healthcare (the \"Units\") at a conversion price of C$21.99 per Unit (the \"Conversion Price\"), representing a premium of 30% to the 3-day VWAP of the closing price of the Units on February 27, 2026.The purchase price for the Debentures was exclusively satisfied through the exchange of US$79,698,000 aggregate principal amount of the outstanding 7.50% Series C preferred securities (the \"Preferred Securities\"), with such Preferred Securities exchanged at a currency adjusted principal amount equal to the principal amount of Debentures issued. As of the date hereof, an aggregate principal amount of US$35,580,000 of the Preferred Securities remain issued and outstanding.About DRI HealthcareDRI Healthcare is a pioneer in global pharmaceutical royalty monetization. Since our founding in 1989, we have deployed more than $3.0 billion, acquiring more than 75 royalties on 50-plus drugs, including Ekterly, Eylea, Keytruda, Orserdu, Remicade, Spinraza, Stelara, Vonjo and Zytiga. The Units are listed and trade on the TSX in Canadian dollars under the symbol \"DHT.UN\" and in U.S. dollars under the symbol \"DHT.U\". To learn more, visit drihealthcare.com or follow us on LinkedIn.Caution concerning forward-looking statementsThis news release may contain forward-looking information within the meaning of applicable securities legislation. For...