Dundee REIT To Issue A Further $25 Million In Convertible Debentures Bringing Offering To $100 Million.TORONTO -- DUNDEE REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :D.UN) today announced that it has agreed to sell, on a bought deal basis, a further $25,000,000 principal amount of Convertible Unsecured Subordinated Debentures subordinated debenture An unsecured bond with a claim to assets that is subordinate to all existing and future debt. Thus, in the event that the issuer encounters financial difficulties and must be liquidated, all other claims must be satisfied before ("Debentures") to a syndicate of underwriters led by TD Securities Inc. and Scotia Capital Inc. As a result, Dundee REIT and the underwriters have agreed to amend their agreement of February 23, 2005 to provide that Dundee REIT will sell the underwriters an aggregate principal amount of $100,000,000 of Debentures having the same terms as previously announced. The Debentures have not been and will not be registered under the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Securities Act of 1933 and accordingly will not be offered, sold or delivered, directly or indirectly within the United States, its possessions and other areas subject to its jurisdiction or to, or for the account or for the benefit of a U.S. person, except in limited circumstances. Dundee REIT is an unincorporated Adj. 1. unincorporated - not organized and maintained as a legal corporation unorganised, unorganized - not having or belonging to a structured whole; "unorganized territories lack a formal government" , open-ended real estate investment trust. We are a provider of high quality, affordable business premises. We focus on owning, acquiring, leasing and managing mid-sized urban and suburban office and industrial properties in Canada. Our diversified portfolio consists of approximately 13.2 million square feet of gross leasable area Gross leasable area (GLA) in the retail development industry is a term applied to shopping malls, lifestyle centers, outlet malls and other retail centers to indicate the amount of floor space available to be rented. , located primarily in our target markets of Toronto, Ottawa, Montreal, Calgary and Edmonton. Our portfolio is well diversified by asset type, geographic location and tenant mix. For more information, please visit www.dundeereit.com. Dundee REIT (TSX:D.UN) |
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