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NorthWest Healthcare launches C$85M bought-deal unit offering

NorthWest Healthcare Properties REIT is selling 7,982,000 trust units in a bought-deal offering at C$10.65 apiece for about C$85 million in gross proceeds.

The offering also carries a 30-day overallotment option for the underwriters to acquire up to 1,197,300 additional units.

The company plans to use the net proceeds to primarily repay revolving debt, with the intention of using the debt capacity to potentially finance future purchases and for general trust purposes.

NorthWest expects to close the offering by April 6.

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