Behringer Harvard (Alberta) ULC

May 28, 2009 17:13 ET

Behringer Harvard (Alberta) ULC to Extend and Vary its Offer to Purchase Certain Outstanding Debentures of IPC US Real Estate Investment Trust

TORONTO, ONTARIO--(Marketwire - May 28, 2009) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION BY ANY MEANS INTO THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

Behringer Harvard (Alberta) ULC, an indirect subsidiary of Behringer Harvard REIT I, Inc. ("Behringer Harvard"), has varied and extended the terms of its previously announced offers to purchase from underlying beneficial holders (the "Debentureholders"), the IPC US Real Estate Investment Trust 6% Convertible Unsecured Subordinated Debentures due November 30, 2014 (the "6% Debentures") and 5.75% Convertible Unsecured Subordinated Debentures due September 30, 2012 (the "5.75% Debentures" and together with the 6% Debentures referred to herein, collectively, as the "Debentures").

The offers have been varied to increase the offer price for the 6% Debentures from $1,026.32 to $1,035.00 per $1,000 of principal amount and to increase the offer price for the 5.75% Debentures from $982.50 to $1025.00 per $1,000 of principal amount outstanding (all figures in U.S. dollars).

The expiry time with respect to the offers has been extended until 5:00 p.m. (Toronto time) on June 25, 2009.

A notice of variation and extension of the offers will be mailed to Debentureholders shortly. Debentureholders are urged to read carefully the offering circular delivered to Debentureholders in April, 2009 and the notice of variation and extension as these documents contain important information regarding the offers.

Forward Looking Statements

Certain statements contained in this press release may constitute "forward looking statements". When used in this press release, the words "may," "would," "could," "will," "intend," "plan," "anticipate," "believe," "estimate," "expect," and similar expressions, as they relate to Behringer Harvard are intended to identify forward-looking statements. Such statements reflect Behringer Harvard's current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause Behringer Harvard's actual results, performance, actions or achievements to be materially different from any future results, performance, actions or achievements that may be expressed or implied by such forward looking statements, including among other things, those which are discussed in documents that Behringer Harvard files from time to time with securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Behringer Harvard does not intend, and does not assume any obligation, to update these forward looking statements.

Contact Information

  • Laurel Hill Advisory Group
    1-888-289-1947