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American Hotel Income Properties REIT LP(HOT-UN-T)
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American Hotel Income Properties REIT LP Announces Bought Deal Public Offering of US$50 Million of Convertible Debentures and Intention to Issue Redemption Notice of Its Convertible Debentures Due June 2022

Globe Newswire - Wed Nov 10, 2021

NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES

All amounts in U.S. dollars unless otherwise noted

VANCOUVER, British Columbia, Nov. 10, 2021 (GLOBE NEWSWIRE) -- American Hotel Income Properties REIT LP (“AHIP” or the “Company”) (TSX: HOT.UN, TSX: HOT.U, TSX: HOT.DB.U) announced today that it has entered into an agreement with a syndicate of underwriters (the “Underwriters”) led by CIBC Capital Markets and BMO Capital Markets to issue to the public on a bought deal basis, subject to regulatory approval, US$50,000,000 aggregate principal amount of convertible unsecured subordinated debentures at a price of US$1,000 per debenture with a coupon of 6.00% per annum (the “Debentures”). The Debentures will mature on December 31, 2026 and are convertible at the option of the holder into limited partnership units of AHIP (each, a “Unit” or collectively “Units”) at US$4.95 per Unit (the “Conversion Price” and collectively with all other terms, the “Offering”).

Read more at globenewswire.com