Huntingdon calls C$18.14 million 7˝% secured notes due 2016 at 106.247

By Susanna Moon

Chicago, Nov. 5 – Huntingdon Capital Corp., a wholly owned subsidiary of Slate Asset Management LP, said it called its C$18.14 million of outstanding 7˝% secured debentures due Dec. 31, 2016.

The company will redeem the notes at C$1,062.47 for each C$1,000 principal amount, which consists of C$1,030 plus accrued interest to but excluding the redemption date of Dec. 5, according to a company press release.

In connection with the redemption, Huntingdon said it provided a guarantee for a C$32 million bridge term credit facility between Slate Capital Corp., as borrower, and the Bank of Montreal, as lender and administrative agent.

As previously announced, the company began a change-of-control offer for the 7˝% notes on Oct. 6 related to Slate Capital’s plan to acquire Huntingdon.

Noteholders could put their notes under the change-of-control offer at 101 plus accrued interest up to but excluding the acquisition date.

Huntingdon is a Richmond, B.C.-based real estate investment trust that owns income-producing properties.

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