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NorthWest Healthcare Properties REIT Announces Successful Completion of Previously Announced Bought Deal Equity Offering and Full Exercise Of Over-Allotment Option for Gross Proceeds of Approximately $143.8 Million
NorthWest Healthcare Properties REIT Announces Successful Completion of Previously Announc...
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[{"type":"text","content":"\n\n\n\nNorthWest Healthcare Properties REIT Announces Successful Completion of Previously Announced Bought Deal Equity Offering and Full Exercise Of Over-Allotment Option for Gross Proceeds of Approximately $143.8 Million\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.prntal{\nTEXT-ALIGN: LEFT\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Feb. 26, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\nTSX: NWH.UN\n TORONTO, Feb. 26, 2019 /CNW/ - NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) (\"NorthWest\" or the \"REIT\") is pleased to announce today that it has completed its previously announced public offering (the \"Offering\") of 13,501,000 trust units (\"Units\") of the REIT at a price of $10.65 per Unit for total gross proceeds of approximately $143.8 million, which includes proceeds from the full exercise of an over-allotment option to purchase an additional 1,761,000 Units. The Offering was conducted on a bought deal basis through a syndicate of underwriters co-led by BMO Capital Markets and RBC Capital Markets. \nThe REIT intends to use the net proceeds of the Offering to repay debt, which currently bears an interest rate of 6.8% and partly satisfy certain funding milestones related to the previously announced $1.2 billion acquisition of an 11 property Australian hospital portfolio from Healthscope Limited and its affiliates (the \"Property Transaction\").\nThe Units were offered in each of the provinces and territories of Canada pursuant to the REIT's base shelf prospectus dated October 19, 2018. 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 www.sedar.com.\nAbout NorthWest Healthcare Properties Real Estate Investment Trust\nNorthWest Healthcare Properties Real Estate Investment Trust (TSX:NWH.UN) is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Onta...