Calloway Real Estate Investment Trust to Redeem 6.65%

Calloway Real Estate Investment Trust to Redeem 6.65% Convertible
Unsecured Subordinated Debentures 
TORONTO, ONTARIO -- (Marketwire) -- 11/16/12 --  
NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE
SERVICES  
Calloway Real Estate Investment Trust ("Calloway" or the "REIT")
(TSX:CWT.UN) announced today that it will redeem all of its
outstanding 6.65% Convertible Unsecured Subordinated Debentures (the
"Debentures") on December 18, 2012 (the "Redemption Date"). The
Debentures were issued May 2, 2008 and mature on June 30, 2013. 
The redemption price has been determined in accordance with the
provisions of the Trust Indenture and Supplemental Indenture related
to the Debentures. The redemption price will be paid in cash equal to
the principle of $1,000 together with accrued and unpaid interest on
the Debentures up to, but not including, the Redemption Date, for a
total of $1,031.15 per $1,000 principal amount of Debentures (less
any taxes required to be deducted or withheld) (the "Redemption
Price").  
Notice of redemption has been delivered to Computershare Trust
Company of Canada in accordance with the Trust Indenture.  
The aggregate principal amount of the Debentures currently
outstanding is $99,483,000. Calloway intends to use cash on hand and
to draw funds from its existing revolving line of credit to pay the
Redemption Price to the extent the Debentures are not then converted.
The Debentures are listed for trading on the Toronto Stock Exchange
under the trading symbol "CWT.DB.A" and may be converted in
accordance with their terms into Units of the REIT until December 17,
2012 The Debentures are convertible at $25.25 per Unit of the REIT. 
Non-registered holders (banks, brokerage firms or other financial
institutions) who maintain their interests in the Debentures through
CDS & Co. ("CDS") should contact their CDS customer service
representative with any questions about the redemption.
Alternatively, beneficial holders with any questions about the
redemption should contact their respective brokerage firm or
financial institution, which holds interests in the Debentures
through CDS on their behalf. 
About Calloway 
Calloway is one of Canada's largest real estate investment trusts
with an enterprise value of approximately $6.5 billion. It ow
ns and
manages approximately 26.2 million square feet in 120 value-oriented
retail centres having the strongest national and regional retailers,
as well as strong neighbourhood merchants. Calloway's vision is to
provide a value-oriented shopping experience to Canadian consumers.
For more information on Calloway, visit www.callowayreit.com.
Contacts:
Calloway Real Estate Investment Trust
Al Mawani
President and Chief Executive Officer
(905) 326-6400 ext. 7649 
Calloway Real Estate Investment Trust
Bart Munn
Chief Financial Officer
(905) 326-6400 ext. 7631
www.callowayreit.com
 
 
Press spacebar to pause and continue. Press esc to stop.