Most of the proceeds, $1.12 billion, will be used to repay the firm's secured indebtedness. This private placement is not being registered under the Securities Act of 1933 and the securities may not be sold in the US without an exemption from the Act.TrizecHahn owns and manages 75 office buildings in the central business districts of seven major US cities that have a total of 49 million sf. The company is now in the process of selling its Canadian and European holdings as well as it non-office assets to focus on its US properties and Global Switch, a telecommunications venture.
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