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H&R Completes US$125MM Senior Unsecured Debenture Financing
H&R Completes US$125MM Senior Unsecured Debenture Financing H&R Completes ...
About this update from H&r Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\nH&R Completes US$125MM Senior Unsecured Debenture Financing\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\nH&R Completes US$125MM Senior Unsecured Debenture Financing\nCanada NewsWire\nTORONTO, Feb. 13, 2018\n\n\n\nTORONTO, Feb. 13, 2018 /CNW/ - H&R Real Estate Investment Trust (\"H&R REIT\" or \"H&R\") (TSX: HR.UN and HR.DB.D) announced today that it completed its previously announced offering of US$125 million principal amount of floating rate Series P senior unsecured debentures due February 13, 2020 (the \"Series P Debentures\"). H&R REIT had previously agreed with a syndicate of agents co-led and bookrun by TD Securities, BMO Capital Markets, CIBC Capital Markets, National Bank Financial Inc. and Scotiabank to sell the Series P Debentures on a private placement \"best efforts\" agency basis. The Series P Debentures have been issued at par, bear interest at a rate equal to 3-month LIBOR plus 79 basis points payable quarterly in arrears and mature on February 13, 2020. The net proceeds of the offering will be used for the repayment of existing indebtedness and for general trust purposes, including the redemption of the REIT's 5.90% convertible unsecured subordinated debentures due June 30, 2020, of which $99,652,000 aggregate principal amount is currently outstanding (the \"2020 Convertible Debentures\"). \n\nH&R is also pleased to announce that it has delivered the redemption notice in respect of the 2020 Convertible Debentures to the trustee, BNY Trust Company of Canada. The 2020 Convertible Debentures will be redeemed on March 12, 2018 (the \"Redemption Date\"). The 2020 Convertible Debentures are listed for trading on the TSX under the trading symbol HR.DB.D. The outstanding 2020 Convertible Debentures will be redeemed as at the Redemption Date upon payment by H&R of a redemption amount equal to the aggregate principal amount (being $99,652,000 on the date hereof) and all accrued and unpaid interest thereon up to but excluding the Redemption Date, less any applicable withholding taxes.\n\nAbout H&R REIT\n\nH&R ...