Crombie REIT to redeem all C29.54 million of 7% convertible debentures

By Ashley Montgomery

Kansas City, Kan., April 18 - Crombie Real Estate Investment Trust will redeem its C$29,535,000 outstanding of 7% extendible convertible unsecured subordinated debentures due March 20, 2013, according to a news release.

The convertibles will be redeemed on May 23 at par plus accrued interest to the redemption date.

According to the release, the company will fund the redemption with borrowings from its revolving line of credit.

Stellarton, N.S.-based Crombie is an open-ended real estate investment trust investing in income-producing retail, office and mixed-use properties in Canada.

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