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NorthWest Healthcare to raise C$75M in bought-deal unit offering

NorthWest Healthcare Properties REIT launched a bought-deal offering of 7,430,000 trust units at C$10.10 apiece for roughly C$75 million in gross proceeds.

The offering, expected to be completed on or about Jan. 31, carries a 30-day underwriters' overallotment option to buy up to 1,114,500 additional units.

NorthWest Healthcare will use the net proceeds, along with existing resources, to repay higher-cost revolving debt; to fund its purchase of a medical office property in Fulda, Germany; and for general trust purposes and/or potential future acquisitions.

The syndicate of underwriters is led by BMO Capital Markets and RBC Capital Markets.