Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

InnVest Real Estate Investment Trust : InnVest REIT Announces Exercise of Over-Allotment Option

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/06/2013 | 03:21pm CEST
For Immediate Release NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES INNVEST REIT ANNOUNCES EXERCISE OF OVER-ALLOTMENT OPTION Toronto, Canada (March 6, 2013) - InnVest Real Estate Investment Trust (the "REIT") (TSX: INN.UN), announced today that it has closed on the issuance of an additional $15 million aggregate principal amount of

5.75% convertible unsecured subordinated debentures, Series G due March 31, 2019 (the "Debentures"), pursuant to the exercise in full of the over-allotment option granted to the syndicate of underwriters co-led by RBC Capital Markets, BMO Capital Markets and CIBC, with RBC Capital Markets acting as sole bookrunner, in connection with the previously announced offering of $100 million aggregate principal amount of the Debentures, which closed on February 27, 2013. The exercise of the over-allotment option brings the total aggregate principal amount of Debentures issued by the REIT to $115 million. The Debentures are listed on the Toronto Stock Exchange (the "TSX") under the symbol "INN.DB.G".
As previously announced on February 27, 2013, the REIT issued a notice of redemption for its $75 million
6.00% convertible unsecured subordinated debentures, Series B due May 31, 2013. The balance of the net proceeds from the offering will be used by the REIT for general working capital purposes, which may include funding its capital improvement program.
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.

Trust Profile

InnVest REIT is an unincorporated open-ended real estate investment trust which owns a portfolio of 135 hotels across Canada representing approximately 18,000 guest rooms operated under internationally recognized brands. InnVest REIT also holds a 50% interest in Choice Hotels Canada Inc., one of the largest franchisors of hotels in Canada.
InnVest REIT's units and convertible debentures trade on the TSX under the symbols INN.UN, INN.DB.B, INN.DB.C, INN.DB.D, INN.DB.E, INN.DB.F and INN.DB.G.

Forward Looking Statements

Statements contained in this press release that are not historical facts are forward-looking statements which involve risk and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. Among the key factors that could cause such differences are real estate investment risks, hotel industry risks, competition and the status of InnVest REIT as a Qualified REIT for Canadian federal income tax purposes in any year. These and other factors are discussed in InnVest REIT's annual information form for the year ended December 31, 2011, which is available at www.sedar.com. InnVest REIT disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required to do so by applicable securities law.

For further information

Chantal Nappert
Executive Director, Investor Relations
Tel: (905) 624-7806
Fax: (905) 206-7114
Website: www.innvestreit.com

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news
Date Title
09:10a ALCOA : Federal agency OKs license to run Alcoa's NC dams to 2055
09:03a MINISTRY OF FOREIGN AFFAIRS OF ROMANIA : Bilateral consultations between the Secretary of State for Global Affairs, Daniela Gîtman, and Assistant Minister of Foreign Affairs of China, Liu Haixing
09:01a MICROSOFT : HostForLIFE.eu Launches Moodle 3.1.2 Hosting
09:01a JINKOSOLAR : Sciencenter Sustainability Gallery Bears Fruit with Major Contributions from All Points North Foundation, Cornell University and JinkoSolar
09:01a SGS : Establishes Accredited Mineral Oil Hydrocarbons Analysis Service for Packaging
08:58a QATAR NATIONAL BANK SAQ : Global trade growth falls to slowest rate since the financial crisis Read More...
08:58a An Alliance with Microsoft, Tigo Business, Lenovo and Zepto Marks ITWORX’s Expansion into Africa
08:53a MINISTRY OF ENERGY OF REPUBLIC OF KAZAKHSTAN : An urgent message from the Ministry of Energy of Kazakhstan.
08:38a ASEAN ASSOCIATION OF SOUTH EAST ASIAN NATIONS : Foreign Ministers’ Statement on Cooperation on Sustainable Development
08:38a QATAR ISLAMIC BANK Q : QIB to Disclose Its Third Quarter 2016 Financial on 18th October
Latest news
Advertisement
Hot News 
21.42%Twitter In Talks with Suitors, Including Salesforce, Google -CNBC's Faber
15.45%Endo International CEO steps down, Campanelli named successor
9.77%SANTANDER CONSUMER : USA to Restate Financial Reports
-5.17%FINISH LINE : Comparable Store Sales Rise
-3.52%AP MOELLER MAERSK A/S : A.P. Moeller-Maersk to Split Into Two Separate Divisions -- 4th Update
Most Read News
09/24 FACEBOOK : apologises for shutting down Palestinian journalists' accounts
09/24 MACY : Five dead in mall shooting; no link to terrorism found
09/24 TURKEY TO CONTINUE ECONOMIC REFORMS : Deputy PM Simsek
09/24 CATERPILLAR : Gives the Gift of Power to St. Luke's Foundation for Haiti
09/24 AMUR MINERALS : boosted by potential tie-up with nearby miner
Most recommended articles
09/24 Canada Unifor union sets tentative strike deadline for Fiat Chrysler
09/24 WELLS FARGO : Former employees file class action against Wells Fargo
09/24DJGENERAL MOTORS : GM Shows Off Coming Diesel-Power Small SUV
09/24DJForeign Jet-Fighter Makers Woo India
09/24 Takata failed to report 2003 air bag rupture to U.S. road authority