- Alaris Equity Partners Income Trust (AD.UN) has entered into an agreement with a syndicate of underwriters who will purchase $65 million aggregate number of unsecured debentures
- The listed senior unsecured debentures will be issued at a price of $1,000 per debenture and are due March 31
- The trust has also granted the underwriters an option to purchase up to an additional $9.75 million aggregate principal number of debentures
- The debentures will bear interest at a rate of 6.25 per cent each annum
- Alaris Equity Partners Income Trust (AD.UN) is up 1.232 per cent and is trading at $18.90 per share as of 2:09 p.m. EST
Alaris Equity Partners Income Trust (AD.UN) has entered into an agreement to sell $65 million of unsecured debentures to a syndicate of underwriters.
The debentures will be being issued at a price of $1,000 and are due March 31.
The trust has also granted the underwriters an over-allotment option to purchase up to an additional $9.75 million aggregate principal number of debentures, exercisable for up to 30 days after the closing of the offering.
The offering is expected to close by February 4.
Net proceeds from the offering will be used to partially repay outstanding indebtedness under Alaris’ subsidiary’s senior debt facility.
It may also be redrawn and used to fund future investments in new investments or general trust purposes.
The debentures will have an interest rate of 6.25 per cent each annum.
The first payment will include accrued and unpaid interest for the period from closing to, March 31, 2022.
Before March 31, 2026, the debentures will be redeemable at the trust’s option at a redemption price equal to 103.125 per cent of the amount of the debentures redeemed plus accrued and unpaid interest.
The debentures will mature on March 31, 2027.
Alaris Equity Partners Income Trust (AD.UN) is up 1.232 per cent and is trading at $18.90 per share as of 2:09 p.m. EST.