Toronto, November 27, 2023 /CNW/ – Northwest Healthcare Properties Real Estate Investment Trust (“REIT” or “northwest“) (TSX: NWH.UN) is the holder (“bond holders“Series G” Convertible Bonds Unsecured Subordinated Bonds Maturity Arrives December 31, 2023 (TSX: NWH.DB.G) (“”corporate bond“) passed a special resolution approving certain amendments to the previously announced debentures (“correction“) At the bondholders’ meeting held today (“meeting“).
The adoption of the amendment was overwhelmingly supported by the bondholders who voted by proxy or in person at the general meeting, and was approved for adoption by approximately 89.24% of the principal amount of the bonds voted (in person or by proxy at the general meeting). I did. .
craig mitchellNorthwest’s CEO said, “Management continues to take steps to renegotiate and extend short-term debt maturities, in addition to several previously announced credit facility and term loan extensions in the past few weeks. In addition to the successful completion of the December 2023 to March 2025. ”
“Northwest has retired all of its bonds due in 2023 and more than 60% of its bonds due in 2024, further increasing the financial flexibility of the REIT.The company has taken steps to strengthen its capital structure. We would like to thank our bondholders for their support as we continue to take steps to advance our strategy and establish a REIT for future growth. ”
The effective date of the amendments is November 27, 2023. His seventh Supplemental Trust Agreement executed with respect to the Amendment will be available on his SEDAR+ profile of his REIT at www.sedarplus.ca.
Noteholders (hereinafter referred to as “”)Round“) will receive a cash consent fee without interest. $20 around $1,000 As of the record date, the principal amount of the bonds held by the bond holder is: October 13, 2023(“Consent fee“), subject to the satisfaction of certain other conditions necessary for the payment of the Consent Fee set forth in the Circular. The REIT shall pay the Consent Fee to the Noteholders on or about the same date, as applicable. Masu. December 31, 2023.
All amounts referenced in this news release are in Canadian dollars.
About Northwest Healthcare Properties Real Estate Investment Trust
Northwest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) (Northwest) is an unincorporated open-end real estate investment trust organized under the laws of the State of Northwest. Ontario. The REIT provides investors with access to a portfolio of high-quality international healthcare real estate infrastructure, including: September 30, 2023has interests in a diversified portfolio of 229 income properties and 18.2 million square feet of gross lettable area located throughout major markets. Canada, US, Brazil, Europe, Australiaand new zealand. The REIT’s portfolio of medical office buildings, clinics and hospitals is characterized by long-term indexed leases and stable occupancy rates. The REIT has a fully integrated and connected senior management team, more than 300 employees in 10 offices across eight countries, and serves as a long-term real estate partner for leading healthcare operators.
Forward-looking information
Certain statements contained in this news release are forward-looking statements and are provided for the purpose of presenting information regarding management’s current expectations and plans regarding the future. Readers are cautioned that such statements may not be appropriate for other purposes. These forward-looking statements include statements regarding the completion of amendments, payment of consent fees, the REIT’s financial flexibility, the REIT’s capital structure and future growth. In some cases, forward-looking information is identified by terminology such as “will,” “will,” “anticipated,” “anticipated,” “anticipated,” “anticipated” and similar terms. You may. The forward-looking statements in this news release are based on certain assumptions, including the receipt of final listing approval for additional units underlying the Notes. Such statements are subject to significant known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such statements. , should not be construed as a guarantee of future performance or results. It does not necessarily indicate accurately whether such results will be achieved. Such risks include those described in the REIT’s current annual information form and management’s discussion and analysis. These risks are available on SEDAR+ (www.sedarplus.ca). These risks may depend on market factors and are not completely within the REIT’s control. Although management believes that there is a reasonable basis for the expectations reflected in these forward-looking statements, actual results may differ from those suggested by the forward-looking statements for a variety of reasons. There may be cases. These forward-looking statements reflect the REIT’s current expectations as of the date of this news release and speak only as of the date of this news release. The REIT undertakes no obligation to publicly update or revise any forward-looking statements, except as required by applicable law.
SOURCE Northwest Healthcare Properties Real Estate Investment Trust
View original content: http://www.newswire.ca/en/releases/archive/April2023/27/c8511.html