TORONTO, Feb. 23 /CNW/ - First Capital Realty Inc. ("First Capital
Realty") (TSX:FCR) Canada's leading owner, developer and operator of
supermarket and drugstore anchored neighbourhood and community shopping
centres, located predominantly in growing metropolitan areas, announced
today that, consistent with past practice, it will pay the interest due
on March 31, 2011 to holders of both classes of its 5.50% convertible
unsecured subordinated debentures due September 30, 2017 (FCR.DB.A and
FCR.DB.B), to holders of its 6.25% convertible unsecured subordinated
debentures due December 31, 2016 (FCR.DB.C) and to holders of its 5.75%
convertible unsecured subordinated debentures due June 30, 2017
(FCR.DB.D) by the issuance of common shares. The number of common
shares to be issued per $1000 principal amount of debentures will be
calculated by dividing the dollar amount of interest payable by an
amount equal to 97% of the volume-weighted average trading price of the
common shares of First Capital Realty on the Toronto Stock Exchange
calculated for the 20 consecutive trading days ending on March 24,
2011. The aggregate interest payment is approximately $9.7 million,
plus any accrued and unpaid interest on debentures which are converted
on or before March 24, 2011.
It is the current intention of First Capital Realty to continue to
satisfy its obligations to pay principal and interest on its
convertible unsecured subordinated debentures by issuance of common
ABOUT FIRST CAPITAL REALTY (TSX:FCR)
First Capital Realty is Canada's leading owner, developer and operator
of supermarket and drugstore anchored neighbourhood and community
shopping centres, located predominantly in growing metropolitan areas.
The Company currently owns interests in 179 properties, including three
under development, totalling approximately 21.7 million square feet of
gross leasable area and eight sites in the planning stage for future
SOURCE First Capital Realty Inc.
For further information:
Dori J. Segal, President & C.E.O., or
Karen H. Weaver, E.V.P. & C.F.O.
First Capital Realty Inc.
85 Hanna Avenue, Suite 400
Toronto, Ontario, Canada M6K 3S3
Tel: (416) 504-4114
Fax: (416) 941-1655