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NorthWest Healthcare Properties REIT Announces Intention to Redeem Two Series of Convertible Debentures Totalling $93 Million, Including One Series of In-the-Money Debentures
NorthWest Healthcare Properties REIT Announces Intention to Redeem Two Series of Convertib...
About this update from Vital Infrastructure Property Trust
[{"type":"text","content":"\n\n\n\nNorthWest Healthcare Properties REIT Announces Intention to Redeem Two Series of Convertible Debentures Totalling $93 Million, Including One Series of In-the-Money 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\nTORONTO, Dec. 19, 2019\n\n\n\nTORONTO, Dec. 19, 2019 /CNW/ - NorthWest Healthcare Properties Real Estate Investment Trust (the \"REIT\") (TSX: NWH.UN) is pleased to announce that it intends to redeem all of its outstanding:\n5.25% convertible unsecured subordinated debentures (the \"5.25% Debentures\"), of which $40,250,000 aggregate principal amount is currently outstanding; and 5.50% convertible unsecured subordinated debentures (the \"5.50% Debentures\", and together with the 5.25% Debentures, the \"Debentures\"), of which $52,742,000 aggregate principal amount is currently outstanding. The redemptions are expected to occur on January 20, 2020 (the \"Redemption Date\"). \nThe 5.25% Debentures mature on September 30, 2020 and are listed for trading on the Toronto Stock Exchange (the \"TSX\") under the trading symbol \"NWH.DB\". The 5.50% Debentures mature on October 31, 2020 and are listed for trading on the TSX under the trading symbol \"NWH.DB.D\". \nThe 5.50% Debentures have a conversion price of $11.25 per trust unit, which is less than the current trading price of the REIT's trust units. Holders of 5.50% Debentures that wish to convert their debentures must do so in accordance with the Trust Indenture and the Supplemental Indenture related to the 5.50% Debentures. Registered holders of Debentures that wish to convert must provide written notice of conversion prior to January 17, 2020, being the last business day immediately preceding the Redemption Date. Beneficial holders of Debentures that wish to convert should contact their respective brokerage firm or financial institution well in advance of this deadline.\nThe redemption price has been determined in accordance with the provisions of the Trust Indenture and the Supplemental Indentures related to the Debentures. The redemption price will be paid in cash and wi...