Royal Host REIT Completes Debenture Offering

On February 21, 2002, Royal Host Real Estate Investment Trust completed an offering of $40 million principal amount of 9.25 per cent convertible unsecured subordinated debentures to mature on March 1, 2007. Each debenture is convertible into trust units of Royal Host at the option of the holder at any time at a conversion price of $7 per unit.

Burnet, Duckworth & Palmer LLP acted for Royal Host with a team comprised of Bill Maslechko and Jeff Oke (securities) and Ian Bock (tax).

The underwriting syndicate was led by RBC Dominion Securities Inc. and included BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank Financial Inc., Scotia Capital Inc., HSBC Securities (Canada) Inc. and Raymond James Ltd. Bennett Jones LLP acted for the underwriters, with a team comprised of Doug Foster, Philip Backman and Brent Kraus (securities) and Darcy Moch (tax).