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 (环球资讯)--Melcor房地产投资信托("Melcor REIT"或"REIT") (TSX: MR.UN) 今天宣布已向持有Melcor REIT到期日为2024年12月31日的5.10%可转换无担保次级债券("债券")的持有人发出赎回通知，代表目前所有未偿还的债券的赎回。
DEBENTURE REDEMPTION
债券赎回
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.
债券将在2024年12月12日("赎回日")按其条款赎回。债券将以每$1,000本金面值的$1,023.05的赎回金额赎回，相当于(1) $1,000 和(2) 直至赎回日之前的所有应计但未支付的利息(计算为每$1,000本金面额的$23.05)的总和。截至2024年11月7日收盘时，未偿还的债券的总本金面额为$4600万。
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:
在债券赎回之前，每位持有人均有权将其债券按照$8.90每单位("转换价格")转换为信托单位("单位")，最迟于2024年12月11日之前的任何时间。所需的转换通知表将在SEDAR上提供，并应提交给odyssey托管公司，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 证券交易塔架, 1230-300 南西 5大道 卡尔加里, 阿尔伯塔省 T2P 3C4 注意：公司信托 传真：800.517.4553 |
or | Odyssey Trust Company 交易员银行大厦, 702, 永年街67号 多伦多, 安大略省 M5E 1J8 注意：公司trust 传真：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.
选择转换债券本金的持有人，每转换$1,000债券本金将获得约112.3596单位。在转换时不会发行部分单位，而是按照适用的单位当前市场价格（减去任何需要扣除的税款）确定的现金等值，转换日期应凭此为准。所有债券持有人若未在2024年12月11日或之前提交转换通知，其债券将于赎回日期以现金方式赎回。希望将其债券转换为单位的债券实益持有人应尽快咨询其金融机构，并留足时间完成转换流程。
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.
根据债券的赎回和偿还，股权房地产投资信托(reits)预计债券将在赎回和偿还日当日或之后不久从多伦多证券交易所（"TSX"）摘牌，但须符合股权房地产投资信托(reits)在正常业务程序中取得TSX批准的条件。
LENDER CONSENT AND WAIVER
LENDER同意和放弃
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").
关于2024年5月27日签署的Melcor REIt 有限合伙企业（“REIt LP”）作为借款人，ATb Financial作为行政代理、牵头筹融资方、银团代理人、唯一贷款主承销商和贷款人，以及加拿大Western Bank作为贷款人的修订和重签信贷协议，于2024年8月29日通过首次修订协议进行修订，贷款人已经就以下事项做出同意（“同意”）。: (i) 之前宣布的REIt、Melcor Developments Ltd.和Melcor REIt GP Inc.之间的安排协议（“安排协议”）和 (ii) 根据之前宣布的REIt、Melcor REIt 有限合伙企业和Melcor Developments Ltd.之间的备用贷款协议提供资金（“备用贷款协议”）。贷款人和代理也同意放弃因安排协议、备用贷款协议引起的违约、未遵守、违约或违约事件 （连同同意一起，称为“同意和放弃”）。
About Melcor REIT
关于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是一个未纳入公司的、开放式的股权房地产投资信托。Melcor REIt拥有、收购、管理和出租西加拿大市场的高质量零售、办公和工业收入物业。其投资组合目前由36处位于阿尔伯塔省、萨斯喀彻温省里贾纳和不列颠哥伦比亚省凯洛纳的总面积约为307.2万平方英尺的毛租赁面积的物业权益组成。
Forward Looking Statement Cautions:
前瞻性声明警告：
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 .
本新闻发布包含根据适用加拿大证券法律的前瞻性信息。在某些情况下，前瞻性信息可通过使用诸如"可能"，"将"，"应当"，"预计"，"打算"，"计划"，"预期"，"相信"，"估计"，"预测"，"潜在"，"继续"等词语来识别，并涉及涉及风险和不确定性的战略讨论，其中某些风险超出了股权房地产投资信托的控制范围。在本新闻发布中，前瞻性信息包括但不限于Debentures的赎回时间以及Debentures在TSX的摘牌时间。前瞻性信息基于股权房地产投资信托作出的某些关键期望和假设，尽管股权房地产投资信托的管理层认为前瞻性信息反映的期望是合理的，但不能保证任何交易将发生，也不能保证交易将按照本新闻发布中考虑的时间表或条款和条件发生。读者被警告不要过分依赖前瞻性信息。有关可能影响股权房地产投资信托的这些和其他因素的额外信息已纳入加拿大证券监管机构的备案报告中，并可通过SEDAR+获得。
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.
根据其性质，这种前瞻性信息必然涉及已知和未知的风险和不确定性，可能导致未来股权房地产投资信托期间的实际结果、表现、前景和机会与这些前瞻性陈述所表明或暗示的结果有重大差异。此外，在本新闻发布中包含的前瞻性声明是自本新闻发布日期起做出的，股权房地产投资信托及任何其他人均不对任何前瞻性信息的准确性和完整性承担责任，也无义务更新或修订任何前瞻性信息，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.
联系人：欲获得更多信息，请联系：
投资者关系:
电话: 1.780-945-4795
ir@melcor.ca
持份者问题:
Laurel Hill Advisory Group
北美免费热线: 1-877-452-7184
北美以外地区：1-416-304-0211
电子邮件: assistance@laurelhill.com。
