Opérations et transactions|4 février 2010
Extendicare REIT completes C$86.3 million offering of units
Torys acted as counsel to the syndicate of underwriters led by RBC Capital Markets with a team that included Simon Knowling, Bill Lamoureux, Charmaine Craig, Raymond Archer, Corrado Cardarelli, Grace Pereira and Christina Medland in Toronto and Saro Sarmazian, Gavin Scotti, Mark Tice, Tracy Zanco, Heding Yang, Tsedale Melaku, Dianne Ralph, Peter Keenan and David Mattingly in New York.
On February 4, 2010, Extendicare Real Estate Investment Trust (TSX: EXE.UN) closed its previously announced public offering of 9,228,750 trust units of the REIT, including the exercise in full of an over-allotment option of 1,203,750 REIT units, at C$9.35 per REIT unit for aggregate gross proceeds of approximately $86.3 million to a syndicate of underwriters led by RBC Capital Markets.
The net proceeds of the offering will provide the REIT with greater balance sheet flexibility and liquidity and will be used by the REIT to repay indebtedness, to fund redevelopment of the REIT's existing properties and for general purposes.