Tricon Capital redeems 5.6% convertible debentures due 2020

By Wendy Van Sickle

Columbus, Ohio, Oct. 9 – Tricon Capital Group Inc. completed the redemption of all of its outstanding 5.6% convertible unsecured subordinated debentures due March 31, 2020, according to a press release.

The redemption was announced on Aug. 30, at which time C$85,685,000 principal amount was outstanding.

At total of 8,096,318 common shares were issued to settle conversion requests received by Tricon between the date of its redemption announcement and Oct. 5.

The remaining debentures were redeemed on the redemption date for 589,405 common shares. Accrued interest of C$1.38 per C$1,000 principal amount was paid in cash.

Cash was also paid in lieu of fractional shares.

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.