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Northwest Healthcare Properties Real Estate Investment Trust Announces $125 Million Convertible Debenture Bought Deal
Northwest Healthcare Properties Real Estate Investment Trust Announces $125 Million Conver...
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[{"type":"text","content":"\n\n\n\nNorthwest Healthcare Properties Real Estate Investment Trust Announces $125 Million Convertible Debenture Bought Deal\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Dec. 11, 2018\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./\n TORONTO, Dec. 11, 2018 /CNW/ - NorthWest Healthcare Properties Real Estate Investment Trust (\"NorthWest\" or the \"REIT\") (TSX: NWH.UN) announced today a public offering, on a \"bought deal\" basis, of $125 million principal amount of convertible unsecured subordinated debentures, at a price of $1,000 per debenture, with an interest rate of 5.50% per annum, payable semi-annually on the last day of June and December commencing on June 30, 2019 (the \"Debentures\"). The Debentures will mature on December 31, 2023. \nThe offering is being made through a syndicate of underwriters led by RBC Capital Markets and BMO Capital Markets.\nThe REIT has also granted the underwriters the option to purchase up to $18.75 million principal amount of additional Debentures at a price of $1,000 per Debenture to cover over-allotments, exercisable in whole or in part anytime up to 30 days following closing of the offering.\nThe Debentures will be convertible at the holder's option into units of the REIT at a conversion price of $13.35 per unit. The debentures will not be redeemable prior to December 31, 2021. From January 1, 2022 to December 31, 2022, the Debentures may be redeemed in whole or in part from time to time at the REIT's option, at a price equal to their principal amount plus accrued and unpaid interest, provided that the volume weighted average trading price of the units on the Toronto Stock Exchange for the 20 consecutive trading days preceding the date on which the notice of redemption is given is not less than 125% of the conversion price. From January 1, 2023 onward, the Debentures will be redeemable at the option of the REIT, in whole or in part, at a redemption price equal to par plus accrued and unpaid interest.\nThe REIT intends ...