Tricon Capital Group Completes Redemption of 5.60% Convertible Unsecured Subordinated Debentures

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Tricon Capital Group Completes Redemption of 5.60% Convertible Unsecured Subordinated Debentures

Canada NewsWire

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISTRIBUTION IN THE UNITED STATES./

TORONTO, Oct. 9, 2018 /CNW/ - Tricon Capital Group Inc. ("Tricon" or the "Company", TSX:TCN) announced today that it has completed the previously announced redemption (the "Redemption") of its outstanding 5.60% convertible unsecured subordinated debentures due March 31, 2020 (the "Debentures"). The Company elected to satisfy the redemption price for each Debenture by issuing common shares of the Company ("Common Shares") in accordance with the terms of the Debentures.

The aggregate outstanding principal amount of the Debentures was C$85,685,000 on August 30, 2018, the date Tricon announced its intention to complete the Redemption. The Debentures were redeemed by the Company on October 9, 2018 (the "Redemption Date") and have been delisted from the Toronto Stock Exchange. Pursuant to the conversion option available to holders of the Debentures, an aggregate of 8,096,318 Common Shares were issued in relation to conversion requests received by Tricon between the date of its Redemption announcement and October 5, 2018. The remaining balance of the outstanding principal amount of the Debentures was redeemed on the Redemption Date for an aggregate of 598,405 Common Shares. Accrued interest of C$1.38 per C$1,000 principal amount of Debentures was paid in cash. Cash was also paid in lieu of any fractional shares that would have otherwise been issued on conversion or Redemption. Following the Redemption, the Company will have a total of 142,840,007 Common Shares issued and outstanding.

About Tricon Capital Group Inc.

Tricon is a principal investor and asset manager focused on the residential real estate industry in North America with approximately US$5.6 billion (C$7.4 billion) of assets under management. Tricon invests in a portfolio of single-family rental homes, for-sale housing assets and purpose-built rental apartments, and manages third-party capital in connection with its investments. Our business objective is to invest for investment income and capital appreciation through our principal investment business and to earn fee income through our Private Funds and Advisory business. Since its inception in 1988, Tricon has invested in real estate and development projects valued at approximately US$20 billion. More information about Tricon is available at www.triconcapital.com.

SOURCE Tricon Capital Group Inc.

View original content: http://www.newswire.ca/en/releases/archive/October2018/09/c5603.html

Copyright CNW Group 2018

Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).