Plaza Retail REIT completed its C$47.3 million bought-deal offering of 5.10% convertible unsecured subordinated debentures due March 31, 2023, including the full exercise of the underwriters' overallotment option.

The retail real estate investment trust will use the net proceeds to redeem C$34.0 million of its 5.75% convertible unsecured subordinated debentures due Dec. 31, with the remainder going toward repayment of borrowings under its credit line, its current operations and for general trust purposes.