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Homburg Invest not involved in Catalyst Capital partial tender offer
By Caroline Salls
Pittsburgh, Jan. 16 - Homburg Invest Inc. said that Catalyst Capital Group has made a partial tender offer to holders of mortgage bonds, series HMB4, HMB5, HMB6 and HMB7, and corporate non-asset-backed bonds, series HB8, HB9, HB10 and HB11.
According to a company news release, Homburg Invest has not participated and is not involved in any negotiations or discussions with Catalyst in connection with the tender offer, nor has it been informed on its contents.
Homburg said it continues to pursue its restructuring efforts, including the preparation of its plan of arrangement under the Companies' Creditors Arrangement Act (Canada).
The company said it will be filing and presenting the CCAA plan to its creditors shortly.
The CCAA plan calls for cancellation of all existing shares of Homburg Invest, with no recovery or payment to its shareholders.
Based in Halifax, N.S., Homburg owns a portfolio of real estate, including office, retail, industrial and residential apartment and townhouse properties in Canada, the United States and Europe.
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