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CT REIT Announces Offering of $200M 3.865% Series F Senior Unsecured Debentures due December 7, 2027
CT REIT Announces Offering of $200M 3.865% Series F Senior Unsecured Debentures due Decemb...
About this update from Ct Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\nCT REIT Announces Offering of $200M 3.865% Series F Senior Unsecured Debentures due December 7, 2027\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\nTORONTO, Jan. 24, 2018\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./\n\n\n\nTORONTO, Jan. 24, 2018 /CNW/ - CT Real Estate Investment Trust (CT REIT), (TSX: CRT.UN) announced today that it has agreed to issue, on an agency basis, $200 million aggregate principal amount of series F senior unsecured debentures with a 9.8-year term and a coupon of 3.865% per annum (the \"Debentures\"). The Debentures are being offered (the \"Debenture Offering\") under CT REIT's short form base shelf prospectus dated April 5, 2017. The terms of the Debenture Offering will be described in a prospectus supplement, dated January 24, 2018, to be filed with Canadian securities regulators in each of the provinces and territories of Canada. The Debenture Offering is expected to close on or about February 7, 2018. \n\nIt is expected that the Debentures will be rated \"BBB+\" by S&P Global Ratings acting through Standard & Poor's Ratings Services (Canada), a business unit of S&P Global Canada Corp. and \"BBB(high)\" by DBRS Limited. The Debentures will be direct senior unsecured obligations of CT REIT. \n\nCT REIT intends to use the proceeds of the Debenture Offering to pay down certain amounts outstanding under its credit facilities, and to retain the balance of the proceeds for general business purposes. \n\nThe Debenture Offering is led by TD Securities and Scotiabank. The Debentures offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Debentures in any jurisdiction in which such offer, solicitation or sale would be unlawful.\n\nAbout CT Re...