Morguard North American Residential REIT Announces the Exercise in Full of the Over-Allotment Option Associated with its Recently Completed Public Offering of $75 Million of Convertible Debentures

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[{"type":"text","content":"\n\n\n\nMorguard North American Residential REIT Announces the Exercise in Full of the Over-Allotment Option Associated with its Recently Completed Public Offering of $75 Million of Convertible Debentures\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\nMISSISSAUGA, ON, Feb. 16, 2018\n\n\n\n/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/ \n\n\n\nMISSISSAUGA, ON, Feb. 16, 2018 /CNW/ - Morguard North American Residential Real Estate Investment Trust (the \"REIT\") (TSX: MRG.UN) announced today that the syndicate of underwriters, co-led by RBC Capital Markets and TD Securities, of its recently completed bought deal offering of $75 million aggregate principal amount of 4.50% convertible unsecured subordinated debentures due March 31, 2023 (the \"Debentures\") have exercised in full their over-allotment option to purchase an additional $10,500,000 aggregate principal amount of Debentures. \n\nThe REIT intends to use the net proceeds from the exercise of the over-allotment option to fund future acquisitions, for debt repayment and for general trust purposes.\n\nThe closing of the over-allotment option is expected to occur on February 21, 2018. \n\nThe securities offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered, sold or delivered, directly or indirectly, in the United States or to, or for the account or benefit of, \"U.S. persons\" (as defined in Regulation S under the United States Securities Act of 1933, as amended). This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Units in the United States or to, or for the account or benefit of, U.S. Persons. \n\nAbout Morguard North American Residential REIT \n\nThe REIT is an unincorporated, open-ended real estate investment trust which owns, through a limited partnership, interests in a portfolio of 16 Canadian residential apartment communities, located in Alberta and Ontario, and 30 U.S. residential apartment communities located in Colorado, Texas,...

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