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CT REIT Announces Offering of $150M 2.371% Series G Senior Unsecured Debentures due January 6, 2031 and Redemption of $150M 2.159% Series C Senior Unsecured Debentures due June 1, 2021
CT REIT Announces Offering of $150M 2.371% Series G Senior Unsecured Debentures due Janua...
About this update from Ct Real Estate Investment Trust
[{"type":"text","content":"\n \n \n \n CT REIT Announces Offering of $150M 2.371% Series G Senior Unsecured Debentures due January 6, 2031 and Redemption of $150M 2.159% Series C Senior Unsecured Debentures due June 1, 2021\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n \n \n \n TORONTO\n \n ,\n \n Dec. 10, 2020\n \n /CNW/ - CT Real Estate Investment Trust (CT REIT), (TSX: CRT.UN) announced today that it has agreed to issue, on a private placement basis in each of the provinces of\n \n Canada\n \n (the \"\n \n Debenture\n \n \n Offering\n \n \"),\n \n $150 million\n \n aggregate principal amount of Series G senior unsecured debentures with a ten-year term and a coupon of 2.371% per annum (the \"\n \n Series G Debentures\n \n \"). CT REIT intends to use the net proceeds of the Debenture Offering, together with cash on hand, to redeem all of its outstanding 2.159% Series C Senior Unsecured Debentures due\n \n June 1, 2021\n \n (the \"\n \n Series C Debentures\n \n \").\n \n \n \n Offering of Series G Debentures\n \n \n \n The Debenture Offering will be on an agency basis led by RBC Dominion Securities Inc., TD Securities Inc. and Scotia Capital Inc. Subject to customary closing conditions, the Debenture Offering is expected to close on or about\n \n January 6, 2021\n \n .\n \n \n It is expected that the Series G Debentures will be rated \"BBB\" by S&P Global Ratings acting through Standard & Poor's Ratings Services (\n \n Canada\n \n ), a business unit of S&P Global Canada Corp., and \"BBB\" with a \"stable\" trend by DBRS Limited. The Series G Debentures will be direct senior unsecured obligations of CT REIT.\n \n \n The Series G Debentures offered have not been registered under\n \n the United States\n \n \n Securities Act of 1933\n \n , 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 a...