The Toronto Stock Exchange reports that Northwest Healthcare Properties Real Estate Investment Trust has amended the terms of its 5.50 per cent convertible unsecured subordinated debentures due Dec. 31, 2023 (symbol NWH.DB.G). According to the TSX, the REIT has:

• Increased the underlying interest rate from 5.50 per cent to 10.00 per cent effective Dec. 31, 2023 (being the commencement of the next interest rate accrual period);
• Decreased the conversion price to $7.25 per trust unit of the REIT, being a conversion rate of 137.9310 units per $1,000 principal amount of debentures. Prior to the amendments set out in the supplemental indenture dated Nov. 27, 2023, between the REIT and Computershare Trust Company of Canada, the debentures were convertible at $13.35 per unit, being a ratio of approximately 74.9064 units per $1,000 principal amount of debentures;
• Extended the maturity date from Dec. 31, 2023, to March 31, 2025;
• Provided that the debentures shall not be redeemable during the period between Dec. 31, 2023, and March 31, 2025, except in the event of a change of control as described in the trust indenture dated Sept. 11, 2013, as supplemented by the fourth supplemental indenture dated Dec. 20, 2018, between the REIT and Computershare.

The TSX reports that all other terms of the debentures remain unchanged. Trades in the debentures on Dec. 28, 2023, and Dec. 29, 2023, will settle on Dec. 29, 2023. The debentures will be posted for trading at the opening on Tuesday, Jan. 2, 2024, under the new name, 10.00 per cent convertible unsecured subordinated debentures due March 31, 2025. There will be no change to the stock symbol or Cusip number.

For more information, refer to the REIT's management information circular dated Oct. 13, 2023, which is available on SEDAR+, the REIT's news releases dated Oct. 16, 2023, and Nov. 27, 2023, and the TSX bulletin dated Dec. 18, 2018.