NorthWest Healthcare Properties REIT Announces Exercise of Over-Allotment Option
Nov 05, 2015, 09:07 ET
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./
TORONTO, Nov. 5, 2015 /CNW/ - NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) (the "REIT") announced today the issuance of an additional $3 million aggregate principal amount of 5.50% convertible unsecured subordinated debentures of the REIT. The issuance was pursuant to the partial exercise of an over-allotment option granted by the REIT to a syndicate of underwriters led by BMO Capital Markets and RBC Capital Markets in connection with the REIT's recent offering of 5.50% convertible unsecured subordinated debentures, on a bought deal basis (the "Offering"), which closed on October 9, 2015. The exercise of the over-allotment option increases the total gross proceeds of the Offering to $53 million. The net proceeds from the Offering will be used to repay a portion of the REIT's Brazilian term loans.
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 provides investors with access to a portfolio of high quality international healthcare real estate infrastructure comprised of interests in a diversified portfolio of 123 properties and 8.0 million square feet of gross leasable area located throughout major markets in Canada, Brazil, Germany, Australia and New Zealand. The REIT's portfolio of medical office buildings, clinics, and hospitals is characterized by long term indexed leases and stable occupancies. With a fully integrated and aligned senior management team, the REIT leverages over 180 professionals across 9 offices in 5 countries to serve as a long term real estate partner to leading healthcare operators.
Forward Looking Information
Certain statements contained in this news release may contain projections and "forward looking statements" within the meaning of that phrase under Canadian securities laws. When used in this new release, the words "may", "would", "should", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions may be used to identify forward looking statements. Those statements reflect the REIT's current views with respect to future events or conditions. By their nature, forward looking statements reflect management's current views, beliefs and assumptions and are subject to certain risks and uncertainties, known and unknown, including, without limitation, risks disclosed in the REIT's annual information form dated March 10, 2015, joint management information circular dated April 7, 2015, (final) short form prospectus dated October 2, 2015 and the REIT's other public filings, copies of which each may be obtained on the SEDAR website at www.sedar.com. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by these forward looking statements. The REIT does not intend to nor assume any obligation to update these forward looking statements whether as a result of new information, plans, events or otherwise, unless required by law.
These securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold in the United States or to U.S. persons except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to an exemption therefrom. Accordingly, this news release does not constitute an offer for sale of securities in the United States.
SOURCE NorthWest Healthcare Properties Real Estate Investment Trust
For further information: Paul Dalla Lana, CEO, NorthWest Healthcare Properties REIT, (416) 366-8300 ext. 1001
Share this article