New Issue: Dundee REIT prices C$75 million convertibles

New York, Feb. 23 - Dundee REIT said it priced C$75 million of 10-year convertible unsecured subordinated debentures with a 5.7% coupon and a conversion price of C$30.00 per trust unit.

TD Securities Inc. was underwriter of the bought deal offering.

The Toronto-based business premises real estate investment trust will use proceeds for general trust purposes including funding possible future acquisitions.

Issuer:	Dundee REIT
Issue:	Convertible unsecured subordinated debentures
Amount:	C$75 million
Maturity:	March 31, 2015
Coupon:	5.7%
Conversion price:	C$30.00
Conversion premium:	11.7% over C$26.86 close
Soft call:	March 31, 2009 onwards subject to 125% hurdle
Call:	March 31, 2011 onwards at par
Pricing date:	Feb. 23
Settlement date:	April 1
Underwriter:	TD Securities Inc.

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