SmartCentres redeems all C$40 million of 5.45% convertibles due 2018

By Wendy Van Sickle

Columbus, Ohio, Nov. 6 – SmartCentres Real Estate Investment Trust fully redeemed its C$40 million of 5.45% convertible debentures due June 30, 2018, according to a press release.

The debentures were assumed by SmartCentres from OneREIT on Oct. 4 in connection with the closing of SmartCentres' acquisition of a portfolio of 12 properties from OneREIT.

The convertibles were redeemed at par plus accrued interest of C$19.26 per C$1,000 principal amount.

The REIT owns retail centers that are primarily anchored by Walmart and is based in Toronto.

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