On September 15, 2009, Morguard REIT issued C$103.5 million of 6.5% Convertible Unsecured Subordinated Debentures due September 30, 2014 (the “Debentures”).  The Notes mature on September 30, 2014.  Interest on the Notes accrues at a rate of 6.500% per annum and will be payable semi-annually in arrears in equal installments on March 31 and September 30, commencing on March 31, 2010. 

 

On August 15, 2012, Morguard REIT announced the redemption of all its outstanding Debentures on October 1, 2012.