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Chartwell Announces Issuance of $250 Million of 6.000% Series C Senior Unsecured Debentures
Chartwell Announces Issuance of $250 Million of 6.000% Series C Senior Unsecured Debentures ...
About this update from Chartwell Retirement Residences
[{"type":"text","content":"\n \n \n \n Chartwell Announces Issuance of $250 Million of 6.000% Series C Senior Unsecured Debentures\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n /NOT FOR DISSEMINATION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n MISSISSAUGA, ON\n \n \n ,\n \n \n Dec. 5, 2023\n \n \n /CNW/ - Chartwell Retirement Residences (\"Chartwell\") (TSX: CSH.UN) announced today that it has agreed to issue\n \n $250 million\n \n aggregate principal amount of Series C senior unsecured debentures (the \"Debentures\"). The Debentures will bear interest at a rate of 6.000\n \n %\n \n per annum and will mature on\n \n December 8, 2026\n \n . The Debentures will be unconditionally guaranteed by Chartwell Master Care LP. The Debentures are being offered on an agency basis by a syndicate of agents led by TD Securities Inc., BMO Nesbitt Burns Inc. and CIBC World Markets Inc. as joint bookrunners. The offering is expected to close on\n \n December 8, 2023\n \n , subject to satisfaction of customary closing conditions. DBRS Limited has assigned a provisional rating of \"BBB (low)\" with a \"Stable\" trend to the Debentures. It is a condition to the closing of the offering that DBRS Limited assigns a final rating to the Debentures of \"BBB (low)\" with a \"Stable\" trend.\n \n \n \n \n \n \n \n \n \n Chartwell intends to use the net proceeds from this offering to repay its maturing 3.786% Series A senior unsecured debentures and for general trust purposes, including the repayment of a portion of existing indebtedness under its secured credit facility.\n \n \n The offering is being made by way of a private placement to \"accredited investors\" in each of the provinces of\n \n Canada\n \n .\n \n \n The Debentures have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in\n \n the United States\n \n absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation...