/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN
TORONTO, March 5, 2013 /CNW/ - Tricon Capital Group Inc. (TSX: TCN, TSX:
TCN.DB, TSX: TCN.DB.A) ("Tricon" or the "Company") announced today that, in connection with Tricon's recently closed
offering of $75,000,000 aggregate principal amount of convertible unsecured subordinated
debentures ("Convertible Debentures"), the underwriters have purchased an additional $11,000,000 aggregate
principal amount of Convertible Debentures at a price of $1,000 per
Convertible Debenture upon the exercise of their over-allotment option.
The offering of Convertible Debentures was underwritten by a syndicate
of underwriters co-led by RBC Capital Markets and GMP Securities L.P.
and including BMO Capital Markets, CIBC, Canaccord Genuity Corp.,
National Bank Financial Inc., Paradigm Capital Inc. and Fraser
Mackenzie Limited. As previously announced, the Company intends to use
the net proceeds from the offering to fund continued expansion of its
U.S. single-family home rental market strategy, and for general
corporate and working capital purposes.
This press release is not an offer or a solicitation of an offer of
securities for sale in the United States. The Convertible Debentures
have not been and will not be registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold in
the United States absent registration or an applicable exemption from
About Tricon Capital Group Inc.
Founded in 1988, Tricon is one of North America's leading residential
real estate investment companies with approximately $1.1 billion of
third-party assets under management and a portfolio of approximately
1,700 U.S. single-family rental homes. Tricon provides financing to
local operators or developers in select markets in the United States
and Canada, with a primary focus on for-sale housing in growing
markets. Since inception, Tricon has invested in approximately 150
transactions for development projects valued at more than $10 billion.
More information about Tricon is available at www.triconcapital.com.
This press release may contain forward-looking statements relating to
expected future events and financial and operating results and
projections of the Company, including statements regarding future
plans, objectives or economic performance that involve risks and
uncertainties. Forward-looking information and statements are based on
management's expectations, intentions and assumptions. If unknown risks
arise, or if any of the assumptions underlying the forward-looking
statements prove incorrect, actual results may differ materially from
management expectations as projected in such forward-looking
statements. Examples of such risks include, but are not limited to, the
risks disclosed in the Company's final long form prospectus dated May
14, 2010, the risks disclosed in the Company's final short form
prospectus dated April 24, 2012, the risks disclosed in the Company's
final short form prospectus dated July 23, 2012, the risks disclosed in
the Company's final short form prospectus dated November 27, 2012, the
risks disclosed in the Company's final short form prospectus dated
February 15, 2013 and the risks described in the Company's continuous
disclosure materials from time-to-time, as available on SEDAR at www.sedar.com. The Company disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new information,
future events or otherwise, unless required by applicable law.
SOURCE: Tricon Capital Group Inc.
For further information:
Chief Financial Officer