Dundee International REIT Said to Raise C$410 Million in IPO

Dundee International Real Estate Investment Trust raised C$410 million ($433 million) in an initial public offering, 12 percent more than it originally sought, said three people with knowledge of the sale.

The Toronto-based REIT sold 27 million units at C$10 each, as well as C$140 million in convertible debentures with a 5.5 percent coupon, said the people, who asked not to be named because the terms aren’t public. Dundee International initially sought to raise C$365 million, the people said, and increased the amount because of investor demand. Proceeds will be used to buy properties in Germany, according to a regulatory filing.