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-BMO Capital Markets leads Altus CAD48m debenture sale.

BANKING AND CREDIT NEWS-April 19, 2012--BMO Capital Markets leads Altus CAD48m debenture sale(C)2012 M2 COMMUNICATIONS

19 April 2012 - BMO Capital Markets has acted as lead manager and sole bookrunner for the CAD48m (USD48m/EUR37m) convertible debenture issue of Canadian real estate consulting firm Altus Group Ltd (TSE:AIF), the company said on Thursday.

BMO Capital Markets also served as underwriter for the transaction along with CIBC World Markets, National Bank Financial Inc, Scotia Capital, Canaccord Genuity Corp and HSBC Securities (Canada) Inc.

The unsecured subordinated debentures carry a coupon of 6.75% and mature on 30 June 2017. The instruments were sold on a bought-deal basis at a price of CAD1,000 per debenture.

Altus Group plans to use the proceeds from the issue to purchase and cover in full the outstanding convertible debentures bought by the vendors of the Argus business in relation with the company's takeover of Realm Solutions in June 2011.

Altus, which has more than 60 offices located in 14 countries, specialises in real estate consulting, professional advisory and technical services.

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Publication:M2 Banking & Credit News (BCN)
Date:Apr 19, 2012
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