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Crombie REIT Announces Offering of $200 Million Series F Unsecured Notes and Redemption of $125 Million Series C Unsecured Notes
Crombie REIT Announces Offering of $200 Million Series F Unsecured Notes and Redemption of...
About this update from Crombie Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\nCrombie REIT Announces Offering of $200 Million Series F Unsecured Notes and Redemption of $125 Million Series C Unsecured 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\n\n\n\n\n\n\nCanada NewsWire\nNEW GLASGOW, NS, Aug. 12, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n NEW GLASGOW, NS, Aug. 12, 2019 /CNW/ - Crombie Real Estate Investment Trust (\"Crombie\") (TSX: CRR.UN), announced today that it entered into an agreement to issue $200 million aggregate principal amount of Series F Senior Unsecured Notes maturing August 26, 2026 (the \"Series F Notes\"). The Series F Notes will bear interest at a rate of 3.677% per annum. \nThe Series F Notes are being offered with a syndicate of agents, co-led by Scotia Capital Inc., CIBC World Markets Inc., and TD Securities Inc., and including BMO Nesbitt Burns Inc., Desjardins Securities Inc., National Bank Financial Inc. and RBC Dominion Securities Inc., to sell, on a best efforts, private placement basis. \nThe offering is expected to close on or about August 26, 2019 and is subject to customary closing conditions, including receipt of necessary consents and approvals and the Series F Notes receiving a rating of at least BBB(low) with a stable trend from DBRS. \nThe Series F Notes will be sold in Canada on a private placement basis pursuant to certain prospectus exemptions. The offer and sale of Series F Notes will not be registered under the United States Securities Act of 1933, as amended (the \"Securities Act\") or any state securities laws, and these 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.\nCrombie also announced today that pursuant to the trust indenture governing its 2.775% Series C Senior Unsecured Notes due February 10, 2020 (the \"Series C Notes\"), it has issued a notice of redemption to the registered holders of its Series C No...