Healthlease Properties REIT Completes Debenture Offering

HealthLease Properties Real Estate Investment Trust completed its offering of $50 -million aggregate principal amount of 5.75 per cent convertible unsecured subordinated debentures due November 30, 2018. The debentures are convertible, at the option of the holder, into trust units of the REIT at a price of $14 per trust unit.

The offering was completed on a bought deal basis and was underwritten by a syndicate led by BMO Capital Markets and included Canaccord Genuity Corp., National Bank Financial Inc., CIBC World Markets Inc., Scotia Capital Inc., TD Securities Inc., Dundee Securities Ltd., GMP Securities L.P., Raymond James Ltd., and Euro Pacific Canada Inc. HealthLease intends to use the net proceeds of the offering to repay indebtedness incurred under its credit facility and for general business purposes.

Goodmans LLP represented Health-Lease with a team of Stephen Pincus, Mark Spiro, Chat Ortved and Rachel Ouellette (corporate/securities) and Jon Northup and Jarrett Freeman (tax).

Davies Ward Phillips & Vineberg LLP represented the syndicate of underwriters with a team led by Jim Reid that included Jared Solinger (corporate and securities), Neal Armstrong and Raj Juneja (tax) and Abe Leitner (US tax).

Lawyer(s)

Stephen N. Pincus Raj Juneja Mark Spiro James R. Reid Abraham Leitner Neal H. Armstrong Chat Ortved Jarrett Freeman

Firm(s)

Davies Ward Phillips & Vineberg LLP Goodmans LLP