Shares issued: Class A - 17,094,490 Class B - 3,148,538
HALIFAX, April 15 /CNW/ - Richard Homburg, Chairman and Chief Executive Officer of Homburg Invest Inc. ("HII" or the "Company") (TSX: HII.A & HII.B and NYSE Euronext Amsterdam: HII) announced today that the Company has repaid the outstanding balance on the 7.5% Homburg Mortgage Bond 2, due April 25, 2010. The mortgage-backed bonds were repaid early following the sale or refinancing, by the Company of the investment properties against which the bonds were secured. This is the second Homburg mortgage-backed bond to be repaid in the normal course of business at the end of its seven-year term.
The next mortgage bonds to mature will be the (euro) 20 million 7.5% Homburg Mortgage Bond 4, due November 30, 2011; and (euro) 20 million 7.5% Homburg Mortgage Bond 5, due December 31, 2011. The Company may, at its option, repay either of the above mortgage-backed bonds before their respective maturity.
About Homburg Invest Inc.
Homburg Invest Inc. owns and develops a diversified portfolio of quality real estate including office, retail, industrial and residential apartment and townhouse properties throughout Canada, the United States and Europe. Its head office is located in Halifax, Nova Scotia.
This news release may contain statements which by their nature are forward-looking and express the Company's beliefs, expectations or intentions regarding future performance, future events or trends. Forward looking statements are made by the Company in good faith, given management's expectations or intentions, which are subject to market conditions, acquisitions, occupancy rates, capital requirements, sources of funds, expense levels, operating performance and other matters. Therefore, forward-looking statements contain assumptions which are subject to various factors including: unknown risks and uncertainties; general economic conditions; local market factors; performance of other third parties; environmental concerns; and interest rates, any of which may cause actual results to differ from the Company's good faith beliefs, expectations or intentions which have been expressed in or may be implied from this news release. Forward-looking statements are not guarantees of future performance and are subject to known and unknown risks. Information and statements in this document, other than historical information, should be considered forward-looking and reflect management's current views of future events and financial performance that involve a number of risks and uncertainties. Factors that could cause actual results to differ materially include, but are not limited to, the following: general economic conditions and developments within the real estate industry, competition and the management of growth. The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.
SOURCE Homburg Invest Inc.
For further information: For further information: Mr. Richard Homburg, Chairman and CEO, Homburg Invest Inc., (902) 468-3395; J. Richard Stolle, President and COO, Homburg Invest Inc., 31-20-573-3855; Paul de la Plante, NATIONAL Public Relations, (514) 843-2332