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TORONTO, Aug. 30, 2018 /CNW/ - Tricon Capital Group Inc.
("Tricon" or the "Company", TSX:TCN) today announced that it has issued a notice of redemption to the holders of its 5.60%
convertible unsecured subordinated debentures due March 31, 2020 (the "Debentures"), representing a
redemption in full of all of the currently outstanding Debentures. The Debentures will be redeemed on October 9, 2018, in accordance with their terms, at a total redemption price of C$1,000 plus accrued and unpaid interest of C$1.38 up to but excluding the
redemption date, both per C$1,000 principal amount. This accrued and unpaid interest does not
include the regular semi-annual installment of C$28.08 per C$1,000
principal amount of Debentures, which will be paid on October 1, 2018 in respect of interest
accrued up to but excluding September 30, 2018. Tricon intends to satisfy the redemption
price through the issuance of common shares in the capital of Tricon ("Common Shares"), with cash to be paid for the accrued and
unpaid interest on the Debentures and in lieu any fractional Common Shares that would otherwise be issued. Subject to prior
regulatory approval, Tricon intends to have the Debentures de-listed from the Toronto Stock Exchange following their
redemption.
About Tricon Capital Group Inc.
Tricon is a principal investor and asset manager focused on the residential real estate industry in North America with approximately US$5.6 billion (C$7.4
billion) of assets under management. Tricon invests in a portfolio of single-family rental homes, for-sale housing assets
and purpose-built rental apartments, and manages third-party capital in connection with its investments. Our business
objective is to invest for investment income and capital appreciation through our principal investment business and to earn fee
income through our Private Funds and Advisory business. Since its inception in 1988, Tricon has invested in real estate and
development projects valued at approximately US$20 billion. More information about Tricon is
available at www.triconcapital.com.
This news release contains certain forward-looking information and statements that are based on Tricon's current
expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In this
news release, such forward-looking information and statements can be identified by terminology such as "will", "expects",
"intends", and similar expressions.
In particular, this news release contains forward-looking statements and information relating to the redemption of the
Debentures, the issuance of Common Shares as payment of the redemption price, the payment of cash in respect of interest and
fractional shares and the anticipated de-listing of the Debentures. These forward-looking statements are being made by Tricon
based on certain assumptions that Tricon has made in respect thereof as at the date of this news release, regarding, among other
things that all required regulatory approvals will be obtained on the necessary terms in a timely manner; and that Tricon will,
on the Redemption Date, meet all of the required terms and conditions of the Debentures (including those set forth in the
applicable debenture indentures) in order to effect the redemption on the terms currently contemplated (which includes
assumptions respecting trading prices of the Common Shares). These forward-looking statements are not guarantees of future
performance and are subject to a number of known and unknown risks and uncertainties, including, but not limited to: the risk
that regulatory approvals will not be obtained in the timelines or on the terms required thereby delaying the redemption or
causing it to not occur at all; the risk that Tricon will not be able to meet the requirements for redemption on the redemption
date, including with respect to the price of its Common Shares, which ability may be impacted by a number of risk factors
including, among other things, those detailed under the heading "Risk Definition and Management" in Tricon's management's
discussion and analysis and "Risk Factors" in its annual information form for the year ended December 31,
2017, which can be found at www.sedar.com.
Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those
predicted, forecasted or projected. Such forward-looking statements are expressly qualified by the above statements. The Company
disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information,
future events or otherwise, unless required by applicable law.
SOURCE Tricon Capital Group Inc.
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