MISSISSAUGA, ON, April 8, 2019 /CNW/ - Temple Hotels Inc. (TSX: TPH) ("Temple" or the "Company") today announced the completion of the redemption of its 7.25% series E convertible redeemable unsecured subordinated debentures due September 30, 2020 (the "Debentures") effective April 8, 2019 (the "Redemption Date").
On March 4, 2019, the Company issued a notice of redemption to the holders of the Debentures to redeem all of the outstanding Debentures at a redemption price equal to their principal amount, plus accrued and unpaid interest thereon up to, but excluding, the Redemption Date. Effective on the Redemption Date, 40,647 Debentures in the principal amount of $40,647,000 were redeemed by the Company.
Temple is a hotel investment company with properties located across Canada. Temple is listed on the Toronto Stock Exchange under the symbol TPH (common shares). The primary long-term investment objectives of Temple are to yield stable and growing cash flows and to maximize the long-term share value of Temple through the active management of its assets, accretive acquisitions, and the performance of value added capital improvement programs on selected properties, as deemed appropriate. For further information on Temple, please visit our website at www.templehotels.ca.
SOURCE Temple Hotels Inc.
For further information: Paul Miatello, Chief Financial Officer, T 905-281-3800; Beverley G. Flynn, Senior Vice President, T 905-281-3800