Toronto, Ontario — February 20, 2026 — Leads & Copy —
Ravelin Properties REIT (TSX: RPR.UN) announced today that it does not expect to make principal or interest payments on the upcoming maturity date of its 9.00% convertible unsecured subordinated debentures (the “9% Debentures”).
The REIT has been in default of its obligations to pay interest on the 9% Debentures since March 1, 2024. The repayment price due on maturity is $1,180 per $1,000 principal amount of 9% Debentures, representing aggregate principal amount of $28,750,000, and $5,175,000 for accrued and unpaid interest thereon to, but excluding, the maturity date.
The maturity date of the 9% Debentures is February 28, 2026. In connection with the upcoming maturity date, the 9% Debentures, which currently trade on the Toronto Stock Exchange under “RPR.DB”, will be halted at the market open and delisted at the close of trading on the business day following the maturity date, being March 2, 2026.
Ravelin continues to explore available alternatives to address its financial difficulties, including the current defaults on its existing indebtedness, including with respect to the 9% Debentures, and its ongoing capital requirements. As of the date hereof, no agreement has been reached with any of the REIT’s stakeholders with respect to any such potential alternatives, and there can be no assurance that Ravelin will be successful in negotiating any such potential alternatives, or in accessing the funding needed for the REIT to continue as a going concern.
The REIT owns and operates a portfolio of well-located commercial real estate assets in North America and Europe. The majority of the REIT’s portfolio is comprised of government and high-quality credit tenants.
Source: Ravelin Properties REIT
