Morguard Real Estate Investment Trust to Redeem 6.50% Convertible Unsecured Subordinated Debentures
MISSISSAUGA, ON, Aug. 15, 2012 /CNW/ - Morguard Real Estate Investment Trust (the "REIT") (TSX: MRT.UN) today announced that it will redeem all of its outstanding 6.50% Convertible Unsecured Subordinated Debentures (the "Debentures") on October 1, 2012 (the "Redemption Date"). The Debentures were issued September 22, 2009 and mature on September 30, 2014.
The redemption price has been determined in accordance with the provisions of the Trust Indenture and the Supplemental Indenture related to the Debentures. The redemption price will be paid in cash and is $1,000 per Debenture together with accrued and unpaid interest on the Debentures up to, but not including the Redemption Date.
Notice of redemption has been delivered today, August 15, 2012, to CDS & Co. ("CDS") and the trustee, Computershare Trust Company of Canada.
Non-registered holders (banks, brokerage firms or other financial institutions) who maintain their interests in the Debentures through CDS should contact their CDS customer service representative with any questions about the redemption. Alternatively, beneficial holders with any questions about the redemption should contact their respective brokerage firm or financial institution, which holds interests in the Debentures through CDS on their behalf.
Morguard REIT is a closed-end real estate investment trust, which owns a diversified portfolio of 53 high quality retail, office and mixed-use properties in Canada with an approximate value of $2.2 billion and comprising approximately 8.5 million square feet of leaseable space.
SOURCE: Morguard Real Estate Investment TrustFor further information:
Mr. K. (Rai) Sahi
Chief Executive Officer
Mr. T. J. Walker
Chief Financial Officer
Morguard Real Estate Investment Trust
55 City Centre Drive, Suite 1000
Mississauga, ON L5B 1M3
T: 905 281-4800