Melcor Real Estate Investment Trust Announces Redemption of Its 5.10% Convertible Unsecured Subordinated Debentures
Melcor Real Estate Investment Trust Announces Redemption of Its 5.10% Convertible Unsecured Subordinated Debentures
Prior to the redemption of the Debentures, each holder will have the right to convert their Debentures into trust units ("EDMONTON, Alberta, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Melcor Real Estate Investment Trust ("Melcor REIT" or the "REIT") (TSX: MR.UN) today announced that it has issued a notice of redemption to holders of Melcor REIT's 5.10% convertible unsecured subordinated debentures having a maturity date of December 31, 2024 (the "Debentures"), representing a redemption of all of the currently outstanding Debentures.
EDMONTON, Alberta, 2024年11月7日 (環球資訊)--Melcor房地產投資信託("Melcor REIT"或"REIT") (TSX: MR.UN) 今天宣佈已向持有Melcor REIT到期日爲2024年12月31日的5.10%可轉換無擔保次級債券("債券")的持有人發出贖回通知，代表目前所有未償還的債券的贖回。
DEBENTURE REDEMPTION
債券贖回
The Debentures will be redeemed on December 12, 2024 (the "Redemption Date") in accordance with their terms. The Debentures will be redeemed at a redemption amount of $1,023.05 for each $1,000 principal amount of Debentures, being equal to the aggregate of (i) $1,000, and (ii) all accrued and unpaid interest thereon up to but excluding the Redemption Date (calculated to be $23.05 per $1,000 principal amount of Debentures). As of the close of trading on November 7, 2024, the aggregate principal amount of the Debentures outstanding was $46.0 million.
債券將在2024年12月12日("贖回日")按其條款贖回。債券將以每$1,000本金面值的$1,023.05的贖回金額贖回，相當於(1) $1,000 和(2) 直至贖回日之前的所有應計但未支付的利息(計算爲每$1,000本金面額的$23.05)的總和。截至2024年11月7日收盤時，未償還的債券的總本金面額爲$4600萬。
Prior to the redemption of the Debentures, each holder will have the right to convert their Debentures into trust units ("Units") at a conversion price of $8.90 per Unit (the "Conversion Price") at any time on or prior to December 11, 2024. The required form of Conversion Notice will be available on SEDAR+ at , and should be submitted to Odyssey Trust Company, as follows:
在債券贖回之前，每位持有人均有權將其債券按照$8.90每單位("轉換價格")轉換爲信託單位("單位")，最遲於2024年12月11日之前的任何時間。所需的轉換通知表將在SEDAR上提供，並應提交給odyssey託管公司，如下:
| Odyssey Trust Company Stock Exchange Tower, 1230-300 5th Ave SW Calgary, Alberta T2P 3C4 Attention: Corporate Trust Fax: 800.517.4553 |
or | Odyssey Trust Company Trader's Bank Building, 702, 67 Yonge St Toronto, Ontario M5E 1J8 Attention: Corporate Trust Fax: 800.517.4553 |
| odyssey trust公司 證券交易塔架, 1230-300 南西 5大道 卡爾加里, 阿爾伯塔省 T2P 3C4 注意: 企業信託 傳真: 800.517.4553 |
or | Odyssey Trust Company 交易員銀行大廈, 702, 永年街67號 多倫多, 安大略省 M5E 1J8 注意: 企業信託 傳真: 800.517.4553 |
A holder electing to convert the principal amount of their Debentures will receive approximately 112.3596 Units for each $1,000 principal amount of Debentures converted. No fractional Units will be issued on conversion but, in lieu thereof, the REIT shall pay the cash equivalent thereof determined on the basis of the current market price of the Units on the conversion date, as applicable (less any tax required to be deducted, if any). All holders of Debentures who fail to deliver a notice of conversion on or prior to December 11, 2024 shall have their Debentures redeemed for cash on the Redemption Date. Beneficial holders of Debentures who wish to convert their Debentures into Units should consult with their financial institutions as soon as possible and allow for sufficient time to complete the conversion process.
選擇轉換債券本金的持有人，每轉換$1,000債券本金將獲得約112.3596單位。在轉換時不會發行部分單位，而是按照適用的單位當前市場價格（減去任何需要扣除的稅款）確定的現金等值，轉換日期應憑此爲準。所有債券持有人若未在2024年12月11日或之前提交轉換通知，其債券將於贖回日期以現金方式贖回。希望將其債券轉換爲單位的債券實益持有人應儘快諮詢其金融機構，並留足時間完成轉換流程。
In accordance with the redemption and repayment of the Debentures, the REIT expects that the Debentures will be delisted from the Toronto Stock Exchange (the "TSX") on or shortly following such redemption and repayment, subject to the REIT obtaining TSX approval in the ordinary course.
根據債券的贖回和償還，股權房地產投資信託(reits)預計債券將在贖回和償還日當日或之後不久從多倫多證券交易所（"TSX"）除牌，但須符合股權房地產投資信託(reits)在正常業務程序中取得TSX批准的條件。
LENDER CONSENT AND WAIVER
LENDER同意和放棄
In connection with the amended and restated credit agreement among the Melcor REIT Limited Partnership (the "REIT LP"), as borrower, ATB Financial, as administrative agent, lead arranger, syndication agent, sole bookrunner and lender, and Canadian Western Bank, as lender (together with ATB Financial, the "Lenders"), dated May 27, 2024, as amended by a first amending agreement dated August 29, 2024, the Lenders have provided their consent (the "Consent") in connection with: (i) the previously announced arrangement agreement ("Arrangement Agreement") among the REIT, Melcor Developments Ltd. and Melcor REIT GP Inc. and (ii) the advance of funds pursuant to the previously announced Backstop Loan Agreement among the REIT, Melcor REIT Limited Partnership and Melcor Developments Ltd. (the "Backstop Loan Agreement"). The Lenders and Agent have also agreed to waive any breach, failure to comply, default or event of default that may arise as a result of the transactions contemplated by the Arrangement Agreement, the Backstop Loan Agreement and any transactions or actions taken in connection with the transactions contemplated by the Arrangement Agreement and the Backstop Loan Agreement (together with the Consent, the "Consent and Waiver").
關於2024年5月27日簽署的Melcor REIt 有限合夥企業（「REIt LP」）作爲借款人，ATb Financial作爲行政代理、牽頭籌融資方、銀團代理人、唯一貸款主承銷商和貸款人，以及加拿大Western Bank作爲貸款人的修訂和重籤信貸協議，於2024年8月29日通過首次修訂協議進行修訂，貸款人已經就以下事項做出同意（「同意」）。: (i) 之前宣佈的REIt、Melcor Developments Ltd.和Melcor REIt GP Inc.之間的安排協議（「安排協議」）和 (ii) 根據之前宣佈的REIt、Melcor REIt 有限合夥企業和Melcor Developments Ltd.之間的備用貸款協議提供資金（「備用貸款協議」）。貸款人和代理也同意放棄因安排協議、備用貸款協議引起的違約、未遵守、違約或違約事件 （連同同意一起，稱爲「同意和放棄」）。
About Melcor REIT
關於Melcor REIT
Melcor REIT is an unincorporated, open-ended real estate investment trust. Melcor REIT owns, acquires, manages and leases quality retail, office and industrial income-generating properties in western Canadian markets. Its portfolio is currently made up of interests in 36 properties representing approximately 3.072 million square feet of gross leasable area located across Alberta and in Regina, Saskatchewan; and Kelowna, British Columbia.
Melcor REIt是一個未納入公司的、開放式的股權房地產投資信託。Melcor REIt擁有、收購、管理和出租西加拿大市場的高質量零售、辦公和工業收入物業。其投資組合目前由36處位於阿爾伯塔省、薩斯喀徹溫省里賈納和不列顛哥倫比亞省凱洛納的總面積約爲307.2萬平方英尺的毛租賃面積的物業權益組成。
Forward Looking Statement Cautions:
前瞻性聲明警告：
This news release includes forward-looking information within the meaning of applicable Canadian securities laws. In some cases, forward-looking information can be identified by the use of words such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "predict", "potential", "continue", and by discussions of strategies that involve risks and uncertainties, certain of which are beyond the REIT's control. In this news release, forward-looking information includes, among other things, the timing of the redemption of the Debentures and the delisting of the Debentures from the TSX. The forward-looking information is based on certain key expectations and assumptions made by the REIT, and although management of the REIT believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that any transaction will occur or that it will occur on the timetable or on the terms and conditions contemplated in this news release. Readers are cautioned not to place undue reliance on forward-looking information. Additional information on these and other factors that could affect the REIT are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR+ at .
本新聞發佈包含根據適用加拿大證券法律的前瞻性信息。在某些情況下，前瞻性信息可通過使用諸如"可能"，"將"，"應當"，"預計"，"打算"，"計劃"，"預期"，"相信"，"估計"，"預測"，"潛在"，"繼續"等詞語來識別，並涉及涉及風險和不確定性的戰略討論，其中某些風險超出了股權房地產投資信託的控制範圍。在本新聞發佈中，前瞻性信息包括但不限於Debentures的贖回時間以及Debentures在TSX的除牌時間。前瞻性信息基於股權房地產投資信託作出的某些關鍵期望和假設，儘管股權房地產投資信託的管理層認爲前瞻性信息反映的期望是合理的，但不能保證任何交易將發生，也不能保證交易將按照本新聞發佈中考慮的時間表或條款和條件發生。讀者被警告不要過分依賴前瞻性信息。有關可能影響股權房地產投資信託的這些和其他因素的額外信息已納入加拿大證券監管機構的備案報告中，並可通過SEDAR+獲得。
By its nature, such forward-looking information necessarily involves known and unknown risks and uncertainties that may cause actual results, performance, prospects and opportunities in future periods of the REIT to differ materially from those expressed or implied by such forward-looking statements. Furthermore, the forward-looking statements contained in this news release are made as of the date of this news release and neither the REIT nor any other person assumes responsibility for the accuracy and completeness of any forward-looking information, and no one has any obligation to update or revise any forward-looking information, whether as a result of new information, future events or such other factors which affect this information, except as required by law.
根據其性質，這種前瞻性信息必然涉及已知和未知的風險和不確定性，可能導致未來股權房地產投資信託期間的實際結果、表現、前景和機會與這些前瞻性陳述所表明或暗示的結果有重大差異。此外，在本新聞發佈中包含的前瞻性聲明是自本新聞發佈日期起做出的，股權房地產投資信託及任何其他人均不對任何前瞻性信息的準確性和完整性承擔責任，也無義務更新或修訂任何前瞻性信息，除非法律要求。
CONTACT: For further information, please contact:
Investor Relations:
Tel: 1.780-945-4795
ir@melcor.ca
Unitholder Questions:
Laurel Hill Advisory Group
North America (toll-free): 1-877-452-7184
Outside North America: 1-416-304-0211
Email: assistance@laurelhill.com.
聯繫人：欲獲得更多信息，請聯繫：
投資者關係:
電話: 1.780-945-4795
ir@melcor.ca
持份者問題:
Laurel Hill Advisory Group
北美免費熱線: 1-877-452-7184
北美以外地區：1-416-304-0211
電子郵件: assistance@laurelhill.com。
譯文內容由第三人軟體翻譯。
