Opérations et transactions|5 mars 2013
Dundee International REIT completes C$253 million offering of units
Torys acted as counsel to the underwriters with a team that included Rima Ramchandani, Christian Thatcher, Simon Knowling, Tiffany Ramsubick (corporate/securities), Michael Fortier (environmental) and Grace Pereira (tax).
On February 4, 2013 Dundee International REIT (Dundee) announced that it has entered into an agreement to sell 20,200,000 units at a price of C$10.90 per unit for gross proceeds of appropriately C$220 million. The equity offering is being sold on a bought deal basis to a syndicate of underwriters led by TD Securities Inc.
The offering closed as expected on March 5, 2013, after meeting all regulatory approvals.
The REIT granted the underwriters an over-allotment option to purchase up to an additional 3,030,000 units, which was exercised in full as of March 5, 2013. With the over-allotment option exercised in full, the gross proceeds of the offering is total approximately C$253.2 million.
Dundee will use the net proceeds from the offering to provide partial funding on its acquisition of an office portfolio in Germany.
Dundee International REIT is the first Canadian REIT created to invest in commercial real estate exclusively outside of Canada.
Further information can be found on Dundee's website.
The offering closed as expected on March 5, 2013, after meeting all regulatory approvals.
The REIT granted the underwriters an over-allotment option to purchase up to an additional 3,030,000 units, which was exercised in full as of March 5, 2013. With the over-allotment option exercised in full, the gross proceeds of the offering is total approximately C$253.2 million.
Dundee will use the net proceeds from the offering to provide partial funding on its acquisition of an office portfolio in Germany.
Dundee International REIT is the first Canadian REIT created to invest in commercial real estate exclusively outside of Canada.
Further information can be found on Dundee's website.