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Morguard REIT plans cash redemption of 4.85% debentures

Morguard Real Estate Investment Trust intends to fully redeem its 4.85% convertible unsecured subordinated debentures due Oct. 31, 2017.

The debentures will be redeemed Jan. 9, 2017, at a price of C$1,000 per debenture, using the net proceeds from Morguard's recent bought-deal offering.

Computershare Trust Co. of Canada is the trustee for the notes.