October 09, 2015

Northwest Healthcare Properties Real Estate Investment Trust Completes $50 Million Convertible Debenture Offering

Goodmans represented Northwest Healthcare Properties Real Estate Investment Trust in the completion of a $50 million public offering in the aggregate princpal amount of 5.50% of convertible unsecured subordinated debentures, on a bought deal basis, to a syndicate of underwriters.

The underwriters were led by BMO Capital Markets and RBC Capital Markets and included National Bank Financial Inc., CIBC World Markets Inc., Scotia Capital Inc., Canaccord Genuity Corp., GMP Securities L.P., TD Securities Inc., Dundee Securities Ltd., Raymond James Ltd., Mackie Research Capital Corporation and Manulife Securities Incorporated.

The underwriters were granted an over-allotment option exercisable at any time up to 30 days from the date of the closing of the offering. This also enabled the underwriters to offer for sale up to an additional $7.5 million aggregate principal amount of debentures on the same terms and conditions. All proceeds from the offering will be used to repay a portion of the Brazilian term loans.

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