Transaction|June 6, 2013
Dundee International REIT completes equity offering
Torys acted as counsel to the underwriters led by TD Securities with a team that included Rima Ramchandani, Simon Knowling, Christian Thatcher, Josh Lavine, Tiffany Ramsubick (corporate/securities), Michael Fortier (environmental) and Grace Pereira (tax).
On June 6, 2013 Dundee International REIT (Dundee) the closing of its previously announced equity offering of 11,700,000 units of Dundee International REIT at a price of C$10.70 per unit for total gross proceeds of C$125,190,000.
The over-allotment issuance of an additional 1,445,000 units closed on June 24, 2013, for gross proceeds of approximately C$15.5 million. The exercise of the over-allotment option increased the total gross proceeds of the offering to approximately C$140.7 million.
Dundee will use the net proceeds from the offering to fund future acquisitions and for general trust purposes.
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 Canada Newswire's website.
The over-allotment issuance of an additional 1,445,000 units closed on June 24, 2013, for gross proceeds of approximately C$15.5 million. The exercise of the over-allotment option increased the total gross proceeds of the offering to approximately C$140.7 million.
Dundee will use the net proceeds from the offering to fund future acquisitions and for general trust purposes.
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 Canada Newswire's website.