TORONTO, Nov. 5, 2014 /CNW/ - Huntingdon Capital Corp. ("Huntingdon") (TSX: HNT.DB), a wholly-owned subsidiary of Slate Asset Management LP, announced today that it has sent Huntingdon debentureholders a notice of redemption in respect of all of its outstanding 7.50% secured debentures due on December 31, 2016 (the "Debentures").
The entire aggregate principal amount of $18,140,000 of Debentures outstanding as of November 5, 2014 will be redeemed on December 5, 2014 (the "Redemption Date") upon payment by Huntingdon of a redemption amount of $1,062.47 for each $1,000 principal amount of Debentures, being equal to the aggregate of (i) $1,030, and (ii) all accrued and unpaid interest on such Debentures to but excluding the Redemption Date (collectively, the "Redemption Price"), less applicable withholding taxes, if any.
The Redemption Price will be payable upon presentation and surrender of the Debentures called for redemption at Computershare Trust Company of Canada, 510 Burrard Street, 3rd Floor, Vancouver, British Columbia, V6C 3B9. Interest upon the principal amount of Debentures called for redemption shall cease to be payable from and after the Redemption Date.
In connection with the foregoing, Huntingdon also announces that it has provided a guarantee in respect of a $32,000,000 bridge term credit facility that has been entered into between Slate Capital Corporation, as borrower, Huntingdon and certain of its subsidiaries, as guarantors, and the Bank of Montreal, as lender and administrative agent.
Slate Asset Management LP is a leading real estate investment platform with over $2 billion in assets under management. Slate is a value-oriented company and a significant sponsor of all its private and publically-traded investment programs, which are tailored to the unique goals and objectives of its investors. The firm's careful and selective investment approach creates long term value with an emphasis on capital preservation and outsized returns. Slate is supported by exceptional people, flexible capital and a proven ability to originate and execute on a wide range of compelling investment opportunities. More information is available at www.slateam.com.
The Toronto Stock Exchange has not reviewed nor approved the contents of this press release and does not accept responsibility for the adequacy or accuracy of this press release.
SOURCE: Slate Asset Management LP
For further information: Blair Welch, Partner and Co-Founder, Slate Asset Management, 416 644 4267; Brady Welch, Partner and Co-Founder, Slate Asset Management, 416 644 4263