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Allied Announces $450 Million Green Bond Offering
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES ...
About this update from Allied Properties Real Estate Investment Trust
[{"type":"text","content":"Allied Announces $450 Million Green Bond Offering\n\n\n\n\n\n NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES\n \n\n\n\n OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA\n \n\n\n\n TORONTO, Sept. 18, 2025 (GLOBE NEWSWIRE) -- Allied Properties Real Estate Investment Trust (“Allied”) (TSX:AP.UN) announced today that it has agreed to offer, on a private placement basis in each of the provinces and territories of Canada (the “Offering”), $450 million aggregate principal amount of series N senior unsecured debentures that will bear interest at a rate of 4.667% per annum and will mature on September 25, 2031 (the “Debentures”).\n \n\n The Debentures will be issued under Allied’s Green Financing Framework (the “Framework”), which is available on Allied’s website at\n \n https://www.alliedreit.com/company/esg/\n \n .\n \n\n The Debentures will be sold at par with a yield of 4.667% per annum, and are being offered on an agency basis by a syndicate of agents co-led by RBC Capital Markets and Scotiabank and including ATB Capital Markets, CIBC Capital Markets, BMO Capital Markets and TD Securities. Scotiabank and RBC Capital Markets acted as sustainability structuring advisors. Subject to customary closing conditions, the Offering is expected to close on September 25, 2025.\n \n\n Allied intends to allocate the net proceeds of the Offering toward the financing and/or refinancing of Eligible Green Projects, in line with the Framework. Before allocating the proceeds to these projects, Allied intends to utilize the funds for the full repayment of the construction loan on 108 East 5\n \n th\n \n Avenue, Vancouver, the repayment of amounts drawn under its unsecured revolving operating facility with the balance, if any, to be applied toward the repayment of an unsecured term loan.\n \n\n Although Allied intends to allocate an amount equal to the net proceeds of the Offering as described herein, it will not be an Event of Default under the Series N Indenture if Allied fails to do so.\n \n\n The Debentures are expected to be rated “BBB” with a Negative trend by Morningstar DBRS. The Debentures will rank equally with all other unsecured indebtedness of Allied that has not been subordinated.\n \n\n\n The Debentures being offered have not been, and will not be,...
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