Partners REIT completes offering of debentures
On September 5, 2012, Partners Real Estate Investment Trust ("Partners REIT") completed its offering of C$34,500,000 aggregate principal amount of 6.0% convertible unsecured subordinated debentures, on a bought deal basis, to a syndicate of underwriters led by National Bank Financial Inc., Scotiabank and Canaccord Genuity Corp., with National Bank Financial Inc. and Scotiabank acting as joint bookrunners, and included CIBC World Markets Inc., RBC Dominion Securities, TD Securities Inc., Macquarie Capital Markets Canada Ltd., Raymond James Ltd. and M Partners Inc.
The net proceeds to Partners REIT from the offering were C$33,120,000. Partners REIT will use the net proceeds from the offering to repay existing debt, to fund future acquisitions and for general trust purposes.
Further information can be found Partner REIT's website.
Partners REIT (TSX: PAR.UN; PAR.DB) is a growth-oriented real estate investment trust, which currently owns (directly or indirectly) thirty retail properties located in British Columbia, Alberta, Manitoba, Ontario and Quebec, aggregating approximately 2.2 million square feet of leasable space.