TSX: NWH.UN
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR DISSEMINATION IN THE UNITED
STATES/
TORONTO, Aug. 25,
2022 /CNW/ - NorthWest Healthcare Properties Real
Estate Investment Trust (TSX: NWH.UN) ("NorthWest" or the "REIT")
is pleased to announce the closing of its previously announced
public offering (the "Offering") whereby NorthWest sold
$135 million aggregate principal
amount of 6.25% convertible unsecured subordinated debentures
("Debentures"), on a bought deal basis, to a syndicate of
underwriters (the "Underwriters") co-led by RBC Capital Markets and
Scotiabank.
The REIT has granted the Underwriters the option to purchase up
to $20.25 million aggregate principal
amount of additional Debentures at a price of $1,000 per Debenture to cover over-allotments,
exercisable in whole or in part anytime up to 30 days following
closing of the Offering.
The REIT intends to use the net proceeds of the Offering to
repay short-term floating rate debt with a weighted average
interest rate of approximately 7.5% and for general trust
purposes.
The Debentures were offered in each of the provinces and
territories of Canada pursuant to
the REIT's base shelf prospectus dated November 27, 2020, and by way of private
placement in the United States.
The terms of the Offering are described in a prospectus supplement
filed with Canadian securities regulators. A copy of the prospectus
supplement is available under the REIT's profile on the SEDAR
website at www.sedar.com.
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 Offering, the expected use of proceeds thereof 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