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NorthWest Healthcare nets C$144M from bought-deal equity offering

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NorthWest Healthcare nets C$144M from bought-deal equity offering

NorthWest Healthcare Properties REIT closed its bought-deal equity offering of 13,133,000 trust units at C$10.95 per unit, for gross proceeds of roughly C$143.8 million.

The deal comprises 11,420,000 trust units, with the underwriters exercising in full their option to acquire an additional 1,713,000 units.

NorthWest plans to use net proceeds from the offering, along with its existing resources, to repay about C$125 million on its secured operating facility that it used to fund the buyout of Generation Healthcare REIT. Any remaining funds will be used for future acquisitions, additional debt repayment and general trust purposes.

BMO Capital Markets and RBC Capital Markets co-led the syndicate of underwriters for the offering.