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Morguard Announces Completion of $200 Million Offering of 4.085% Series D Senior Unsecured Debentures
Morguard Announces Completion of $200 Million Offering of 4.085% Series D Senior Unsecured...
About this update from Morguard Corporation
[{"type":"text","content":"\n\n\n\nMorguard Announces Completion of $200 Million Offering of 4.085% Series D Senior Unsecured Debentures\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\nMISSISSAUGA, ON, May 14, 2018\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n\n\n\nMISSISSAUGA, ON, May 14, 2018 /CNW/ - Morguard Corporation (\"Morguard\") (TSX: MRC) announced today that it has completed its previously announced issuance of $200 million aggregate principal amount of series D senior unsecured debentures. These debentures bear interest at a rate of 4.085% per annum and will mature on May 14, 2021. The debentures were offered on an agency basis by a syndicate of agents co-led by RBC Capital Markets and TD Securities Inc., with RBC Capital Markets acting as bookrunner. DBRS Limited has provided a rating of \"BBB (low)\" with a \"Stable\" trend relating to the debentures.\n\nThe net proceeds of the offering will be used for the repayment of indebtedness under operating lines of credit and for general corporate purposes.\n\nThe offering was made pursuant to a prospectus supplement dated May 10, 2018 to Morguard's base shelf prospectus dated November 23, 2017.\n\nThe 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 Morguard Corporation\n\nMorguard Corporation is a real estate company, with total assets owned and under management valued at $21.3 billion.  Morguard owns a diversified portfolio of 210 multi-suite residential, retail, office, industrial and hotel properties comprised of 18,129 residential suites, approximately 16.6 million square feet of commercial leasable space and 5,557 hote...