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Northwest Healthcare Properties Real Estate Investment Trust Announces Extension of its Series G Convertible Unsecured Subordinated Debentures
Northwest Healthcare Properties Real Estate Investment Trust Announces Extension of its Series G ...
About this update from Vital Infrastructure Property Trust
[{"type":"text","content":"\n \n \n \n Northwest Healthcare Properties Real Estate Investment Trust Announces Extension of its Series G Convertible Unsecured Subordinated Debentures\n \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 Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Nov. 27, 2023\n \n \n /CNW/ - Northwest Healthcare Properties Real Estate Investment Trust (the \"\n \n REIT\n \n \" or \"\n \n Northwest\n \n \") (TSX: NWH.UN) is pleased to announce that holders (the \"\n \n Debentureholders\n \n \") of its \"Series G\" Convertible Unsecured Subordinated Debentures due\n \n December 31, 2023\n \n (TSX: NWH.DB.G) (the \"\n \n Debentures\n \n \") passed an extraordinary resolution approving certain amendments to the Debentures previously announced (the \"\n \n Amendments\n \n \") at a meeting of Debentureholders held today (the \"\n \n Meeting\n \n \").\n \n \n The adoption of the Amendments was overwhelmingly supported by the Debentureholders who voted by proxy or in person at the Meeting, with the adoption being approved by approximately 89.24% of the principal amount of the Debentures voted (either in person at the Meeting or by proxy).\n \n \n \n Craig Mitchell\n \n , Northwest's CEO, commented, \"Management continues to take steps to renegotiate and extend its near-term debt maturities. In addition to several previously announced credit facility and term loan extensions that we have successfully completed in the past few weeks, Debentureholders today voted to extend the maturity of the Series G debentures from\n \n December 2023\n \n to\n \n March 2025\n \n .\"\n \n \n \"Northwest has eliminated all 2023 debt maturities, and over 60% of its 2024 debt maturities, giving the REIT added financial flexibility. We would like to thank our Debentureholders for their support, as we continue to work to take steps to strengthen our capital structure and set up the REIT for future growth.\"\n \n \n It is anticipated that the effective date of the Amendments will be\n \n November 27, 2023\n \n . The seventh supplemental trust indenture entered into in respect of the Amendm...