TORONTO, Jan. 29, 2013 /CNW/ - KEYreit (TSX: KRE.UN) (the "REIT")
announced today that it has closed the recently announced public
offering of 3,740,950 trust units of the REIT ("Units"), including the
full exercise of the over-allotment option, at a price of $6.15 per
Unit for aggregate gross proceeds of $23,006,843. The offering was
facilitated through a syndicate of underwriters co-led by National Bank
Financial Inc. and BMO Capital Markets, and including Canaccord Genuity
Corp., Dundee Securities Ltd., GMP Securities L.P. and Macquarie
Capital Markets Canada Ltd.
"We are happy the offering was completed successfully, including the
full exercise of the over allotment, as it gives us more financial
flexibility and decreases our leverage going forward," stated Teresa
Neto, Chief Financial Officer of KEYreit.
The net proceeds from the offering, together with certain cash on hand,
will be used to repay the full balance of the REIT's IPO Mortgage Loan
of approximately $21.8 million, also announced today. After such
repayment, the former properties securing the IPO Mortgage Loan will be
available for future financing at the REIT's discretion.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, any securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful and is not an
offering of securities for sale in the United States. The securities
being offered have not been and will not be registered under the U.S.
Securities Act of 1933 as amended and may not be offered or sold in the
United States absent registration or pursuant to applicable exemption
KEYreit (TSX: KRE.UN) is Canada's premier small-box retail property
owner with 227 properties in nine provinces across Canada. KEYreit's
properties are well located and geographically diverse across Canada
with the majority of all properties containing long-term quadruple net
To find out more about KEYreit (TSX: KRE.UN), visit our website at www.keyreit.com.
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