Calloway REIT completes $150 million debenture offering
Date Closed
April 13, 2009
Lead Office
Toronto
Value
150.00 Million CAD
On April 13, 2009, Calloway Real Estate Investment Trust (the “REIT”) completed a public offering of C$150 million principal amount of 10.25% senior unsecured debentures due June 30, 2013. The offering was underwritten by a syndicate led by RBC Dominion Securities Inc. and included BMO Nesbitt Burns Inc., TD Securities Inc. and Scotia Capital Inc. The net proceeds of the offering were used by the REIT to repurchase approximately C$149 million aggregate principle amount of its 4.51% series A senior unsecured debentures due September 22, 2010.
McCarthy Tétrault LLP advised the syndicate of underwriters with a team that was led by Graham Gow, and included James Moran, Matthew Appleby, and Andrew Parker.