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Granite Prices Offering of $200 Million 4.613% Senior Debenture Due 2018
TORONTO , Sept. 25, 2013 /CNW/ - Granite Real Estate Investment Trust ("Granite") (TSX:...
About this update from Granite Real Estate Investment Trust
[{"type":"text","content":"\n\n\nTORONTO, Sept. 25, 2013 /CNW/ - Granite Real Estate Investment Trust (\"Granite\") (TSX: GRT.UN; NYSE:\n GRP.U) announced today that its wholly owned subsidiary Granite REIT Holdings\n Limited Partnership (\"Granite LP\") has entered into an agency agreement providing for the offering (the\n \"Offering\") of $200 million aggregate principal amount of 4.613% Series 1 senior\n debentures due 2018 (the \"Debentures\"). The Debentures will be guaranteed by Granite, Granite REIT Inc. and\n certain subsidiaries of Granite LP.  The Offering is expected to close\n on or about October 2, 2013, subject to the satisfaction of certain\n customary closing conditions.\n\n\nGranite LP intends to use the net proceeds from the Offering of\n approximately $198.2 million to repay certain outstanding amounts drawn\n on Granite LP's revolving credit facility, finance recent acquisitions,\n including the acquisition of a European portfolio consisting of seven\n properties located in Germany and the Netherlands for €129 million, as\n announced on August 12, 2013 and for general corporate purposes.\n\n\nThe Debentures will be publicly offered in Canada under Granite LP's\n previously filed base shelf prospectus (the \"Prospectus\"), pursuant to an agency agreement with RBC Dominion Securities Inc.,\n BMO Nesbitt Burns Inc., Scotia Capital Inc., CIBC World Markets Inc.,\n TD Securities Inc. and Raymond James Ltd.  Granite LP will also file\n with applicable securities regulators in each of the provinces and\n territories of Canada a prospectus supplement to the Prospectus (the \"Prospectus Supplement\") relating to the Offering. Copies of the Prospectus and the Prospectus\n Supplement will be accessible at www.sedar.com.\n\n\nThis press release does not constitute an offer to sell or the\n solicitation of an offer to buy the Debentures in any jurisdiction. The\n Debentures being offered have not been approved or disapproved by any\n regulatory authority nor has any such authority passed upon the\n accuracy or adequacy of the Prospectus or the Prospectus Supplement.\n\n\nThe Debentures have not been and will not be registered under the United\n States Securities Act of 1933, as amended (the \"U.S. Securities Act\"), and accordingly may not be offered or sold in the United States or\n to or for the account or benefit of U.S. Persons...