/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/
TORONTO, Sept. 11, 2013 /CNW/ - NorthWest Healthcare Properties Real Estate Investment Trust (the "REIT") (TSX:NWH.UN) announced today the closing of its previously announced offering (the "Offering") of $35 million aggregate principal amount of 5.25% convertible unsecured subordinated debentures due September 30, 2020 (the "Debentures") on a bought deal basis to a syndicate of underwriters led by RBC Capital Markets and including BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank Financial Inc., Scotia Capital Inc., GMP Securities L.P., TD Securities Inc., Canaccord Genuity Corp. and Dundee Securities Ltd. (the "Underwriters").
The REIT has granted the Underwriters an over-allotment option exercisable in whole or in part at any time up to 30 days after closing of the Offering, to purchase up to an additional $5.25 million aggregate principal amount of Debentures.
The REIT intends to use the net proceeds of the Offering to repay indebtedness outstanding under its existing credit facility and for general trust purposes, thus replacing shorter-term debt with longer-term debt without materially increasing its aggregate indebtedness.
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. 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 from registration.
About NorthWest Healthcare Properties Real Estate Investment Trust
NorthWest Healthcare Properties Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT holds a portfolio of 78 income-producing properties, with a focus on medical office buildings and healthcare real estate, comprising approximately 4.7 million square feet of gross leasable area located in British Columbia, Alberta, Manitoba, Ontario, Québec, Nova Scotia and New Brunswick.
The press release may contain forward-looking information based on management's best estimates and the current operating environment. These forward-looking statements are related to, but not limited to, the REIT's operations, anticipated financial performance, business prospects and strategies. Forward-looking information typically contains statements with words such as "anticipate", "believe", "expect", "plan", or similar words suggesting future outcomes. Such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements.
Although the forward-looking statements contained in this press release are based on what management of the REIT believes are reasonable assumptions, forward-looking statements involve significant risks and uncertainties. They should not be read as guarantees of future performance or results and will not necessarily be an accurate indicator of whether or not such results will be achieved. Readers are cautioned not to place undue reliance on forward-looking statements as a number of factors could cause actual future results to differ from targets, expectations or estimates expressed in the forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, economic, competitive and commercial real estate conditions, unplanned compliance-related expenses, uninsured property losses and tenant-related risks.
SOURCE: NorthWest Healthcare Properties Real Estate Investment Trust
For further information:
Peter Riggin, CEO, Ernie Spraggs, CFO, or Mike Brady, Senior VP, General Counsel and Secretary, (416) 366-2000, NorthWest Healthcare Properties REIT, or www.nwhp.ca.