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Allied Properties REIT to redeem C$225M of series A debentures

Allied Properties REIT plans to redeem C$225 million of 3.748% series A senior unsecured debentures due May 13, 2020, on Aug. 16.

The real estate investment trust will redeem the debentures at a redemption price equal to C$1,010.77 per C$1,000 principal amount of debentures, plus C$9.755 per C$1,000 principal amount for accrued and unpaid interest to the redemption date.

The aggregate redemption price is approximately C$227.4 million, plus accrued interest of about C$2.2 million.

The REIT intends to fund the redemption using a portion of the net proceeds from the company's C$300 million offering of 3.394% series D senior unsecured debentures.