By Laura Lutz
Des Moines, Jan. 18 - Westfield Real Estate Investment Trust arranged a private placement of units for C$80,042,500.
The company plans to sell 5.05 million trust units at C$15.85 per unit.
CIBC World Markets Inc. and Canaccord Adams will act as underwriters for the deal.
Settlement is expected on Feb. 8.
Proceeds will be used for debt reduction, property acquisitions and working capital.
Based in Winnipeg, Man., Westfield focuses on properties in Western Canada, especially Alberta.
| Issuer: | Westfield Real Estate Investment Trust
|
| Issue: | Trust units
|
| Amount: | C$80,042,500
|
| Units: | 5.05 million
|
| Price: | C$15.85
|
| Warrants: | No
|
| Underwriters: | CIBC World Markets Inc., Canaccord Adams
|
| Pricing date: | Jan. 18
|
| Settlement date: | Feb. 8
|
| Stock symbol: | Toronto: WFD.UN
|
| Stock price: | C$16.25 at close Jan. 18
|
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