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CT REIT Completes Offering of $250M 3.029% Series H Senior Unsecured Debentures due February 5, 2029
CT REIT Completes Offering of $250M 3.029% Series H Senior Unsecured Debentures due Febru...
About this update from Ct Real Estate Investment Trust
[{"type":"text","content":"\n \n \n \n CT REIT Completes Offering of $250M 3.029% Series H Senior Unsecured Debentures due February 5, 2029\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 /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 Feb. 3, 2022\n \n /CNW/ - CT Real Estate Investment Trust (\"CT REIT\") (TSX: CRT.UN) announced today that it has completed its previously announced issuance, on a private placement basis in certain of the provinces of\n \n Canada\n \n (the \"\n \n Debenture\n \n \n Offering\n \n \"), of\n \n $250 million\n \n aggregate principal amount of series H senior unsecured debentures with a seven-year term and a coupon of 3.029% per annum (the \"\n \n Series H Debentures\n \n \"). CT REIT intends to use the net proceeds of the Debenture Offering to complete the previously announced redemption of the entire outstanding\n \n $150 million\n \n aggregate principal amount of its 2.852% Series A Senior Unsecured Debentures due\n \n June 9, 2022\n \n (the \"\n \n Series A Debentures\n \n \"), to pay down certain amounts outstanding under its credit facilities, and to retain the balance of the proceeds for general business purposes.\n \n \n The Series H Debentures have been rated \"BBB\" by S&P Global Ratings and \"BBB\" with a \"stable\" trend by DBRS Limited. The Series H Debentures are direct senior unsecured obligations of CT REIT.\n \n \n The Debenture Offering was led by RBC Capital Markets, BMO Nesbitt Burns Inc. and CIBC World Markets Inc. The Series H 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 an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Series H Debentures in any jurisdiction in which such offer, solici...