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Dundee Industrial Reit announces CAD100m bought deal financing

Dundee Industrial Reit has entered into an agreement to sell 9,100,000 units on a bought deal basis at a price of CAD11.00 per unit to a syndicate of underwriters led by TD Securities for gross proceeds of CAD100,100,000.

In addition, Dundee Industrial Reit has granted the syndicate an over-allotment option, exercisable for a period of 30 days following closing, to purchase up to an additional 1,365,000 units which, if exercised, would increase the gross offering size to CAD115,115,000.

Dundee Industrial Reit expects to file a preliminary short form prospectus relating to the issuance of the units with the securities commissions or other similar regulatory authorities in each of the provinces of Canada on or before 15 February 2013.

The net proceeds from the offering will be used to fund potential future acquisitions and for general trust purposes.

Dundee Industrial Reit is currently at various stages of due diligence and negotiation with respect to over CAD400m of potential acquisitions of industrial properties which are comparable with its existing portfolio. It expects to continue its negotiations in respect of these acquisitions and will actively pursue these and other acquisition and investment opportunities; however, there can be no assurance that any of these discussions will result in a definitive agreement or, if they do, what the terms or timing of any acquisition would be.

The offering is scheduled to close on or about 6 March 2013 and is subject to regulatory approval.


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