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CT REIT Announces Offering of $250M 5.828% Series I Senior Unsecured Debentures due June 14, 2028
CT REIT Announces Offering of $250M 5.828% Series I Senior Unsecured Debentures due June 14, 2028...
About this update from Ct Real Estate Investment Trust
[{"type":"text","content":"\n \n \n \n CT REIT Announces Offering of $250M 5.828% Series I Senior Unsecured Debentures due June 14, 2028\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 Canada NewsWire\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 \n \n TORONTO\n \n \n ,\n \n \n Nov. 14, 2023\n \n \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 \n Debenture\n \n \n \n \n Offering\n \n \n \"), $250 million aggregate principal amount of series I senior unsecured debentures with\n \n \n a 4.6-year term and a coupon of 5.828% per annum (the \"\n \n \n Series I Debentures\n \n \n \"). CT REIT intends to use the net proceeds of the Debenture Offering for the repayment of short term indebtedness, and to retain the balance of the proceeds for general business purposes.\n \n \n \n \n The Debenture Offering will be on an agency basis led by RBC Capital Markets, TD Securities Inc. and CIBC Capital Markets. Subject to customary closing conditions, the Debenture Offering is expected to close on or about\n \n November 17, 2023\n \n \n \n .\n \n \n \n \n It is expected that the Series I Debentures will be rated \"BBB\" by S&P Global Ratings and \"BBB\" with a stable trend by DBRS Morningstar. The Series I Debentures will be direct senior unsecured obligations of CT REIT.\n \n \n \n \n The Series I Debentures offered have not been registered under\n \n the United States\n \n \n \n Securities Act of 1933\n \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 an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Series I Debentures in any jurisdiction in which such offer, solicitation or sale would be unlawful.\n \n \n \n \n \n Abo...