Calloway Real Estate Investment Trust

TSX : CWT.UN


Calloway Real Estate Investment Trust

February 24, 2014 15:53 ET

Calloway Real Estate Investment Trust Announces Partial Redemption of 5.37% Series B Senior Unsecured Debentures

TORONTO, ONTARIO--(Marketwired - Feb. 24, 2014) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES

Calloway Real Estate Investment Trust ("Calloway") (TSX:CWT.UN) today announced that it is issuing a notice of partial redemption to holders of its $250 million 5.37% Series B senior unsecured debentures due October 12, 2016 (the "Series B Debentures"), representing a redemption in part of $50,000,000 of the $250,000,000 aggregate principal amount of Series B Debentures currently outstanding, representing 20% of the currently outstanding balance of the Debentures. The Series B Debentures called for redemption will be redeemed on a pro rata basis on March 26, 2014 (the "Redemption Date"), in accordance with their terms, at a total redemption price of $1,096.63 plus accrued and unpaid interest of $24.2753 up to but excluding the Redemption Date, both per $1,000 principal amount of Series B Debentures called for redemption. The total redemption price, including accrued interest, will be $56,045,265 (for the $50 million aggregate principal amount of Series B Debentures called for redemption). Following the redemption, $200 million aggregate principal amount of Series B Debentures will remain outstanding. The Series B Debentures that are redeemed will cease to bear interest from and after the Redemption Date.

About Calloway

Calloway is one of Canada's largest real estate investment trusts with total assets of approximately $7 billion. It owns and manages approximately 27 million square feet in 121 value-oriented retail centres having the strongest national and regional retailers, as well as strong neighbourhood merchants. Calloway's vision is to provide a value-oriented shopping experience to Canadian consumers. For more information on Calloway, visit www.callowayreit.com.

Contact Information

  • Calloway Real Estate Investment Trust
    Mario Calabrese
    Interim Chief Financial Officer
    (905) 326-6400 ext. 7610
    www.callowayreit.com