Tricon Capital calls 6.375% convertible debentures due Aug. 31, 2017

By Tali Rackner

Norfolk, Va., Oct. 19 – Tricon Capital Group Inc. plans to redeem all of its outstanding 6.375% convertible unsecured subordinated debentures due Aug. 31, 2017, according to a press release.

The debentures will be redeemed at par of $1,000 plus accrued interest of $15.89 per note on Nov. 30.

The company said it intends to satisfy the redemption price for each debenture by issuing Tricon common shares in accordance with the terms of the debentures, and will pay cash both for the accrued and unpaid interest on the debentures and in lieu any fractional common shares that would otherwise be issued.

Toronto-based Tricon is a North American real estate asset manager and principal investor with a primary focus on the residential sector.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.