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Crombie REIT Announces Offering of $150 Million Series D Notes
Crombie REIT Announces Offering of $150 Million Series D Notes Canada NewsWire N...
About this update from Crombie Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\nCrombie REIT Announces Offering of $150 Million Series D Notes\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nNEW GLASGOW, NS, Nov. 15, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\n\n\nNEW GLASGOW, NS, Nov. 15, 2017 /CNW/ - Crombie Real Estate Investment Trust (\"Crombie\") (TSX: CRR.UN) announced today that it entered into an agreement to issue $150 million aggregate principal amount Series D Notes maturing November 21, 2022. The Notes, which will be issued at par, will bear interest at a rate of 4.066% per annum. \n\nThe Notes are being offered with a syndicate of agents, co-led by TD Securities Inc., CIBC World Markets Inc. and National Bank Financial Inc. and including BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., and Scotia Capital Inc. to sell, on a best efforts, private placement basis. \n\nNet proceeds from the Notes offering will be used for the repayment of short term indebtedness outstanding under Crombie's revolving credit facility and its unsecured bilateral credit facility, and for general trust purposes.\n\nThe offering is expected to close on or about November 20, 2017 and is subject to customary closing conditions, including receipt of necessary consents and approvals and the Series D Notes receiving a rating of at least BBB(low) with negative trend from DBRS. \n\nThe Series D Notes will be sold in Canada on a private placement basis pursuant to certain prospectus exemptions. The offer and sale of Series D Notes will not be registered under the United States Securities Act of 1933, as amended (the \"Securities Act\") or any state securities laws, and the Series D Notes may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.\n\nThis news release does not constitute an offer to sell, or a solicitation of an offer to buy, any security and s...