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.
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.