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NORTHWEST HEALTHCARE PROPERTIES REIT ANNOUNCES SUCCESSFUL COMPLETION OF $75 MILLION OFFERING OF CONVERTIBLE DEBENTURES
NORTHWEST HEALTHCARE PROPERTIES REIT ANNOUNCES SUCCESSFUL COMPLETION OF $75 MILLION OFFERING OF C...
About this update from Vital Infrastructure Property Trust
[{"type":"text","content":"\n \n \n \n NORTHWEST HEALTHCARE PROPERTIES REIT ANNOUNCES SUCCESSFUL COMPLETION OF $75 MILLION OFFERING OF CONVERTIBLE 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.prntal{\nTEXT-ALIGN: LEFT\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TSX: NWH.UN\n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n April 27, 2023\n \n \n /CNW/ - Northwest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) (\"Northwest\" or the \"REIT\") is pleased to announce the closing of its previously announced public offering (the \"Offering\") whereby Northwest sold\n \n $75 million\n \n aggregate principal amount of 7.75% convertible unsecured subordinated debentures (\"Debentures\"), on a bought deal basis, to a syndicate of underwriters (the \"Underwriters\") co-led by Scotiabank and RBC Capital Markets.\n \n \n The REIT has granted the Underwriters the option to purchase up to\n \n $11.25 million\n \n aggregate principal amount of additional Debentures at a price of\n \n $1,000\n \n per Debenture to cover over-allotments, exercisable in whole or in part anytime up to 30 days following closing of the Offering.\n \n \n The REIT intends to use the net proceeds of the Offering to repay short-term variable rate debt with a weighted average interest rate of approximately 9.3% and for general trust purposes.\n \n \n The Debentures were offered in each of the provinces and territories of\n \n Canada\n \n pursuant to the REIT's short form base shelf prospectus dated\n \n February 2, 2023\n \n , and by way of private placement in\n \n the United States\n \n . The terms of the Offering are described in a prospectus supplement filed with Canadian securities regulators. A copy of the prospectus supplement is available under the REIT's profile on the SEDAR website at\n \n www.sedar.com\n \n .\n \n \n \n About Northwest Healthcare Properties Real Estate Investment Trust\n \n \n \n Northwest Healthcare Properties Real Estate Investment Tr...