CANADIAN CLOSED END FUNDS AND INSTALLMENT RECEIPTS Message Board

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Gold/Mining/Energy : CANADIAN CLOSED END FUNDS AND INSTALLMENT RECEIPTS

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To: Scott Mc who wrote ()	5/11/1998 1:06:00 PM
From: Labrador	of 37

TD Securities Inc. confirmed the pricing of Cominar Real Estate Investment Trust's C$145 million initial public offering of trust units at C$10 a unit. In a news release, TD Securities, which, along with Levesque Beaubien Geoffrion Inc., is leading the underwriting syndicate for the offer, said the units will be issued on an instalment basis, with C$6 a unit payable on closing, and C$4 a unit due in one year. As reported, Cominar filed a preliminary prospectus for the offering in early April. In mid-April, the underwriting syndicate said Cominar planned to issue about C$145 million of trust units at C$10 each on an instalment basis. It noted the underwriters have a 15% over-allotment option, worth $12.45 million, for 60 days following closing. It said proceeds from the unit issue will initially be used by Cominar to acquire a 100% interest in 51 properties representing 3.1 million square feet. TD Securities said the forecast yield on the units is about 9.4% fully-paid, and about 13.4% on an instalment basis. It said the units will be listed for trading on the Montreal Exchange and the Toronto Stock Exchange. Cominar REIT is a real estate investment trust.

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