Transaction|December 15, 2011
First Capital Realty completes C$50 million offering of debentures
Torys acted as counsel to First Capital Realty with a team that included Simon Knowling, Michael Zackheim, Mohammed Muraj and Tiffany Ramsubick (corporate/securities) and Andrew Wong (tax).
On December 15, 2011, First Capital Realty Inc. (TSX: FCR) closed its previously announced public offering of C$50 million aggregate principal amount of 5.25% convertible unsecured subordinate debentures due March 31, 2018. The offering was underwritten on a bought deal basis by a syndicate of underwriters co-led by Scotia Capital Inc. and TD Securities Inc., and also included CIBC World Markets Inc., RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., Canaccord Genuity Corp. and Macquarie Capital Markets Canada Ltd.
The debentures will bear interest at a rate of 5.25% per annum payable semi-annually commencing March 31, 2012, and will be convertible at the option of the holder into common shares of First Capital Realty at a conversion rate of C$23.25 per common share being a rate of approximately 43.0108 common shares per C$1,000 principal amount of debentures. The debentures, which are listed on the TSX under the symbol "FCR.DB.G," were issued pursuant to First Capital Realty's trust indenture dated December 19, 2005, as supplemented, and rank pari passu with all of its outstanding convertible unsecured subordinated debentures (TSX: FCR.DB.A, FCR.DB.B, FCR.DB.C, FCR.DB.D, FCR.DB.E and FCR.DB.F).
The net proceeds of the offering will be applied towards development and redevelopment activities, acquisitions and for general corporate purposes.
First Capital Realty is an owner, developer and operator of supermarket and drugstore shopping centres located predominantly in growing urban markets.
Further information can be found on Canada Newswire's website.
The debentures will bear interest at a rate of 5.25% per annum payable semi-annually commencing March 31, 2012, and will be convertible at the option of the holder into common shares of First Capital Realty at a conversion rate of C$23.25 per common share being a rate of approximately 43.0108 common shares per C$1,000 principal amount of debentures. The debentures, which are listed on the TSX under the symbol "FCR.DB.G," were issued pursuant to First Capital Realty's trust indenture dated December 19, 2005, as supplemented, and rank pari passu with all of its outstanding convertible unsecured subordinated debentures (TSX: FCR.DB.A, FCR.DB.B, FCR.DB.C, FCR.DB.D, FCR.DB.E and FCR.DB.F).
The net proceeds of the offering will be applied towards development and redevelopment activities, acquisitions and for general corporate purposes.
First Capital Realty is an owner, developer and operator of supermarket and drugstore shopping centres located predominantly in growing urban markets.
Further information can be found on Canada Newswire's website.