Toronto (pcJ News Briefs) – Canadian Real Estate Investment Trust (CREIT) (TSX: REF.UN) has closed previously announced issuance of $125 million aggregate principal amount of series D senior unsecured debentures.
RBC Capital Markets acted as sole bookrunner and lead agent. Torys LLP and Stikeman Elliott LLP acted as legal counsel to CREIT and the underwriters respectively.
The debentures bear interest at a rate of 2.951% per annum and will mature on January 18, 2023. The debentures were sold at a price of $99.997 per $100.00 principal amount with an effective yield of 2.952% per annum if held to maturity. DBRS Limited has provided CREIT with a rating of “BBB” with a “Stable” trend relating to the debentures.
Net offering are being used by CREIT for the repayment of indebtedness and general business purposes.
CREIT is a real estate investment trust focused on accumulating and aggressively managing a diversified portfolio of high-quality real estate assets and delivering the benefits of real estate ownership to unitholders.
photo credit: Canadian Real Estate Investment Trust