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Calloway REIT completes C$100 million debenture offering

Date Closed

June 4, 2010

Lead Office



100.00 Million CAD

On June 4, 2010, Calloway Real Estate Investment Trust (the “REIT”) completed a public offering of C$100 million principal amount of 5.10% senior unsecured debentures due June 4, 2015.  The offering involved a syndicate of agents led by CIBC World Markets Inc. and included RBC Capital Markets, BMO Nesbitt Burns Inc., TD Securities Inc., Scotia Capital Inc., Canaccord Genuity Corp., Desjardins Securities Inc., Dundee Securities Corporation, HSBC Securities (Canada) Inc., Macquarie Capital Markets Canada Ltd. and National Bank Financial Inc.  The net proceeds of the offering were used by the REIT repay outstanding debt obligations, to pay down amounts outstanding under its current credit facilities and for general trust purposes.

Calloway, headquartered in Vaughan, Ontario, is an unincorporated open-end real estate investment trust.

McCarthy Tétrault LLP represented the syndicate of underwriters, with a team led by Andrew Parker.