By Laura Lutz
Des Moines, June 27 - First Capital Realty Inc. arranged a C$50 million private placement of convertible unsecured subordinated debentures.
The 5.5% debentures were priced at 107. They will mature on Sept. 30, 2017.
They convert at C$27, stepping up to C$28 after five years.
The debentures will have the same terms as the debentures offered by the company on Dec. 19, 2005.
Gazit Canada Inc. subscribed for C$49 million.
RBC Capital Markets is the lead agent.
Settlement is expected on June 29.
Toronto-based First Capital operates shopping centers.
Issuer: | First Capital Realty Inc.
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Issue: | Convertible unsecured subordinated debentures
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Amount: | C$50 million
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Maturity: | Sept. 30, 2017
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Coupon: | 5.5%
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Price: | 107
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Conversion price: | C$27 until Dec. 31, 2011; C$28 after that
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Agent: | RBC Capital Markets (lead)
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Investor: | Gazit Canada Inc. (for C$49 million)
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Pricing date: | June 27
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Settlement date: | June 29
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Stock symbol: | Toronto: FCR
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Stock price: | C$25.20 at close June 27
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