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NORTHWEST HEALTHCARE PROPERTIES REAL ESTATE INVESTMENT TRUST

(NWH.UN)
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NorthWest Healthcare Properties Real Estate Investment Trust : REIT Announces Timing of Third Quarter 2021 Results and Intention to Redeem One Series of In-The-Money Convertible Debentures

10/25/2021 | 07:14pm EST

TORONTO, Oct. 25, 2021 /CNW/ - NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) ("NorthWest" or the "REIT") is pleased to announce today that it will issue its third quarter 2021 financial results on November 11, 2021 and that it intends to redeem all of the outstanding 5.25% convertible unsecured subordinated debentures maturing on December 31, 2021 (the "Series F Debentures").

Q3 2021 Results and Conference Call Details

The REIT will issue its third quarter 2021 financial results for the three months ending September 30, 2021 on November 11, 2021, after markets close.

A conference call will be held on November 12, 2021, at 10:00 am (EST). Participating on the call will be members of the REIT's senior management team.

Investors are invited to access the call by dialing 416-764-8609 or toll-free 1 (888) 390-0605, conference ID# 37093308. A recording of this call will be made available November 12, 2021, beginning at 12:30 pm (ET) through to November 19, 2021. To access the recording, please call 1 (888) 390-0541 or (416) 764-8677 and use the reservation number 093308#.

Redemption of In-The-Money Convertible Debentures

The REIT also announced today that it intends to redeem all of the outstanding Series F Debentures, of which $78,824,000 aggregate principal amount are currently outstanding and trading. The redemptions are expected to occur on November 25, 2021 (the "Redemption Date"). The Series F Debentures are listed for trading on the TSX under the trading symbol "NWH.DB.F".

The Series F Debentures have a conversion price of $12.80 per REIT Unit, which is less than the current trading price of the REIT Units. Holders of Series F Debentures have an economically advantageous opportunity to convert their debentures to REIT Units and can do so in accordance with the Trust Indenture and the Supplemental Indenture related to the Series F Debentures. Registered holders of Series F Debentures that wish to convert must provide written notice of conversion prior to November 24, 2021, being the last business day immediately preceding the Redemption Date. Beneficial holders of Series F Debentures that wish to convert should contact their respective brokerage firm or financial institution well in advance of this deadline.

The redemption price for the Series F Debentures has been determined in accordance with the provisions of the Trust Indenture and the Supplemental Indenture related to the Series F Debentures. The redemption price will be paid in cash and will be equal to the aggregate principal amount of the Series F Debentures, together with accrued and unpaid interest on the Series F Debentures up to, but excluding, the Redemption Date.

A notice of redemption is being delivered on October 26, 2021 to CDS & Co. ("CDS") and the trustee for the Series F Debentures, Computershare Trust Company of Canada.

Non-registered holders (banks, brokerage firms or other financial institutions) who maintain their interests in the Series F Debentures through CDS should contact their CDS customer service representative with any questions about the redemption or conversion. Alternatively, beneficial holders with any questions about the redemption or conversion should contact their respective brokerage firm or financial institution, which holds interests in the Series F Debentures through CDS on their behalf.

About NorthWest Healthcare Properties Real Estate Investment Trust

NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario.  The REIT provides investors with access to a portfolio of high-quality international healthcare real estate infrastructure comprised of interests in a diversified portfolio of 190 income-producing properties and 16.1 million square feet of gross leasable area located throughout major markets in Canada, Brazil, Europe, Australia and New Zealand. The REIT's portfolio of medical office buildings, clinics, and hospitals is characterized by long term indexed leases and stable occupancies. With a fully integrated and aligned senior management team, the REIT leverages over 230 professionals across nine offices in seven countries to serve as a long-term real estate partner to leading healthcare operators.

Forward Looking Information

This press release contains "forward-looking statements" within the meaning of applicable securities laws, including statements about the expected timing of the redemption of the Series F Debentures.  The forward-looking statements in this news release are based on certain assumptions, and are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. The statements in this news release are made as of the date of this release. Although the REIT believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. A discussion of the risk factors applicable to the REIT is contained under the heading "Risk Factors" in the REIT's annual information form dated March 29, 2021 and the REIT's other public filings, copies of which each may be obtained on the SEDAR website at www.sedar.com. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by these forward looking statements. The REIT does not intend to, nor assume, any obligation to update these forward looking statements whether as a result of new information, plans, events or otherwise, unless required by law.

SOURCE NorthWest Healthcare Properties Real Estate Investment Trust

© Canada Newswire, source Canada Newswire English

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Financials
Sales 2021 376 M 295 M 295 M
Net income 2021 343 M 269 M 269 M
Net Debt 2021 - - -
P/E ratio 2021 8,48x
Yield 2021 6,01%
Capitalization 2 907 M 2 286 M 2 281 M
Capi. / Sales 2021 7,73x
Capi. / Sales 2022 7,04x
Nbr of Employees -
Free-Float 99,9%
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Last Close Price 13,31 CAD
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Managers and Directors
Paul Dalla Lana Chief Executive Officer & Director
Craig D. Mitchell President & Chief Executive Officer-Australia
Shailen Chande Chief Financial Officer
Peter Riggin Chief Administrative Officer
Colin Loudon Lead Independent Trustee