Dri Healthcare Plc Trust (TSE:DHT.UN) has released an update.
DRI Healthcare Trust has announced the refinancing of its preferred securities, a move projected to lower unit dilution by 8.2% through the retirement of in-the-money warrants and introduction of new, less dilutive ones. The new Series C preferred securities will replace the old, carrying a 7.50% interest rate and maturing in 2074, with conditions applied if not redeemed by 2029. This strategic financial restructuring, anticipated to complete in April 2024, aims to strengthen the Trust’s financial position and is subject to approval by security holders and the Toronto Stock Exchange.
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