Business
CT REIT Announces Offering of $300M 4.357% Series K Senior Unsecured Debentures due December 5, 2031
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 Canada (the "DebentureOffering"), $300 million aggregate principal amount of series K senior unsecured debentures with a 5.5-year term and a coupon of 4.357% per annum (the "Series K Debentures"). CT REIT intends to use the net proceeds of the Debenture Offering for the repayment of existing indebtedness, including the outstanding $200 mi
About this update from Ct Real Estate Investment Trust
[{"type":"text","content":"/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./","length":88,"tagName":"p","attribs":{}},{"type":"text","content":"TORONTO, May 21, 2026 /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 Canada (the "Debenture Offering"), $300 million aggregate principal amount of series K senior unsecured debentures with a 5.5-year term and a coupon of 4.357% per annum (the "Series K Debentures"). CT REIT intends to use the net proceeds of the Debenture Offering for the repayment of existing indebtedness, including the outstanding $200 million Series D Debentures, which mature on June 1, 2026, to pay down amounts owing under its credit facilities, and to retain the balance of the proceeds for general business purposes.","length":750,"tagName":"p"},{"type":"text","content":"The Debenture Offering will be on an agency basis led by RBC Capital Markets and CIBC Capital Markets. Subject to customary closing conditions, the Debenture Offering is expected to close on or about May 28, 2026.","length":213,"tagName":"p"},{"type":"text","content":"It is expected that the Series K Debentures will be rated "BBB" with a stable trend by Morningstar DBRS. The Series K Debentures will be direct senior unsecured obligations of CT REIT.","length":194,"tagName":"p"},{"type":"text","content":"The Series K Debentures offered have not been registered under the United States 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 Series K Debentures in any jurisdiction in which such offer, solicitation or sale would be unlawful.","length":483,"tagName":"p"},{"type":"text","content":"About CT Real Estate Investment Trust","length":37,"tagName":"p"},{"type":"text","content":"CT REIT is an unincorporated, closed-end real estate investment trust formed to own income-producing commercial properties located primarily in Canada. Its portfolio is comprised of over 375 properties totalling more than 31 million square feet of GLA, consi...