/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR DISSEMINATION IN THE UNITED
STATES/
GROSS PROCEEDS OF PREVIOUSLY ANNOUNCED
CONVERTIBLE DEBENTURE FINANCING INCREASED TO $155 MILLION
TORONTO, Aug. 31,
2022 /CNW/ - NorthWest Healthcare Properties Real
Estate Investment Trust (TSX: NWH.UN) ("NorthWest" or the "REIT")
announced today the issuance of an additional $20.25 million aggregate principal amount of
6.25% convertible unsecured subordinated debentures of the REIT.
The issuance was pursuant to the exercise in full of an
over-allotment option (the "Over-Allotment Option") granted by the
REIT to a syndicate of underwriters co-led by RBC Capital Markets
and Scotiabank in connection with the REIT's recent offering of
6.25% convertible unsecured subordinated debentures, on a bought
deal basis (the "Offering"), which closed on August 25, 2022. The exercise of the
Over-Allotment Option increases the total gross proceeds of the
Offering to $155.25 million. For more
information on the Offering, please refer to the REIT's news
release issued on August 25,
2022.
The REIT has used the net proceeds of the Offering, and intends
to use the additional net proceeds from the exercise of the
Over-Allotment Option, to repay short-term floating rate debt with
a weighted average interest rate of approximately 7.5% and for
general trust purposes.
About NorthWest Healthcare
Properties Real Estate Investment Trust
NorthWest Healthcare Properties Real Estate Investment Trust
(TSX: NWH.UN) is an unincorporated, open-ended real estate
investment trust established under the laws of the Province of
Ontario. As at June 30, 2022, the REIT provides investors with
access to a portfolio of high quality international healthcare real
estate infrastructure comprised of interests in a diversified
portfolio of 232 income-producing properties and 18.5 million
square feet of gross leasable area located throughout major markets
in Canada, the United States, Brazil, Europe, Australia and New
Zealand. The REIT's portfolio of medical office buildings,
clinics, and hospitals is characterized by long term indexed leases
and stable occupancies. With a fully integrated and aligned senior
management team, the REIT leverages over 250 professionals in nine
offices in five countries to serve as a long term real estate
partner to leading healthcare operators.
Forward Looking
Information
This press release contains "forward-looking statements" within
the meaning of applicable securities laws, including statements
about the expected use of proceeds of the Offering and the REIT's
floating rate debt exposure. When used in this news release, the
words "may", "would", "should", "could", "will", "intend", "plan",
"anticipate", "believe", "estimate", "expect" and similar
expressions may be used to identify forward-looking statements. The
forward-looking statements in this news release are based on
certain and are subject to a number of risks and uncertainties that
could cause actual results or events to differ materially from
current expectations. The statements in this news release are made
as of the date of this release. The REIT does not intend to
nor assumes any obligation to update these forward looking
statements whether as a result of new information, plans, events or
otherwise, unless required by law. Although the REIT believes that
the assumptions inherent in the forward-looking statements are
reasonable, forward-looking statements are not guarantees of future
performance and, accordingly, readers are cautioned not to place
undue reliance on such statements due to the inherent uncertainty
therein. A discussion of the risk factors applicable to the REIT is
contained under the heading "Risk Factors" in the REIT's annual
information form dated March 31,
2022, a copy of which may be obtained on the SEDAR website
at www.sedar.com.
These securities have not been and will not be registered
under the United States Securities Act of 1933, as amended (the
"U.S. Securities Act"), or any state securities laws and may not be
offered or sold in the United
States or to U.S. persons except in compliance with the
registration requirements of the U.S. Securities Act and applicable
state securities laws or pursuant to an exemption therefrom.
Accordingly, this news release does not constitute an offer for
sale of securities in the United
States.
SOURCE NorthWest Healthcare Properties Real Estate Investment
Trust