Calloway Real Estate Investment Trust
TSX : CWT.DB
TSX : CWT.UN
TSX : CWT.DB.A
TSX : CWT.DB.B

Calloway Real Estate Investment Trust

July 07, 2010 20:00 ET

Calloway Real Estate Investment Trust Redeems 4.51% Series A Debentures and 6.00% Convertible Debentures

TORONTO, ONTARIO--(Marketwire - July 7, 2010) -

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

Calloway Real Estate Investment Trust ("Calloway") (TSX:CWT.UN)(TSX:CWT.DB)(TSX:CWT.DB.A)(TSX:CWT.DB.B) announces that it has redeemed all of its outstanding 4.51% Series A Debentures (the "4.51% Debentures") and all of its outstanding 6.00% Convertible Unsecured Subordinated Debentures (the "6.00% Debentures").

4.51% Series A Debentures

Calloway redeemed $46,452,000 aggregate principal amount of the 4.51% Debentures. The redemption price of $1,020.978 for each $1,000 principal amount of 4.51% Debentures will be payable upon presentation and surrender of the 4.51% Debentures called for redemption at the corporate trust office of Computershare Trust Company of Canada, 100 University Avenue, 11th Floor, Toronto, Ontario M5J 2Y1, attention: Manager, Corporate Trust Services.

6.00% Convertible Unsecured Subordinated Debentures

Of the $4,303,000 aggregate principal amount of the 6% Debentures, $3,916,000 have been converted into 230,350 Units of Calloway pursuant to the conversion options attached to the debentures, with the balance redeemed in cash. The redemption price of $1,001.151 for each remaining $1,000 principal amount of 6.00% Debentures will be payable upon presentation and surrender of the 6.00% Debentures called for redemption at the above-mentioned corporate trust office of Computershare Trust Company of Canada.

About Calloway

Calloway Real Estate Investment Trust is an unincorporated open-end real estate investment trust focused on the ownership and development of high quality retail properties.

The TSX neither approves nor disapproves of the contents of this Press Release.

Contact Information

  • Calloway Real Estate Investment Trust
    Simon Nyilassy
    President and Chief Executive Officer
    (905) 326-6400 ext. 7649
    or
    Calloway Real Estate Investment Trust
    Bart Munn
    Chief Financial Officer
    (905) 326-6400 ext. 7631