BRIEF-Sienna Senior Living purchases assets for about $255 mln in British Columbia

Mon Apr 18, 2016 3:38pm EDT
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April 18 (Reuters) - Sienna Senior Living Inc

* Sienna Senior Living announces significant expansion in British Columbia and $120 million bought deal public offering of subscription receipts

* Says strategic acquisition of a 50% ownership interest in a BC management company

* Aggregate purchase price for purchased assets is approximately $255 million

* Sienna Senior Living Inc says deal to be immediately accretive to adjusted funds from operations per common share

* Says deal financed through $137 million in existing mortgages and net proceeds of $120 million bought deal public offering

* To sell, on a bought deal basis, 7.6 million subscription receipts at a price of $15.85 per receipt for proceeds of about $120 million Source text for Eikon: Further company coverage: (Bengaluru Newsroom; +1 646 223 8780)