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Morguard Announces Completion of $225 Million Offering of 4.204% Series F Senior Unsecured Debentures
Morguard Announces Completion of $225 Million Offering of 4.204% Series F Senior Unsecured...
About this update from Morguard Corporation
[{"type":"text","content":"\n\n\n\nMorguard Announces Completion of $225 Million Offering of 4.204% Series F 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, Nov. 27, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n MISSISSAUGA, ON, Nov. 27, 2019 /CNW/ - Morguard Corporation (\"Morguard\") (TSX: MRC) announced today that it has completed its previously announced issuance of $225 million aggregate principal amount of series F senior unsecured debentures. These debentures bear interest at a rate of 4.204% per annum and will mature on November 27, 2024. The debentures were offered on an agency basis by a syndicate of agents with RBC Capital Markets and TD Securities Inc. acting as joint bookrunners and co-lead agents. DBRS Limited has provided a rating of \"BBB (low)\" with a \"Stable\" trend relating to the debentures.\nThe net proceeds of the offering will be used for the repayment of certain indebtedness incurred in the ordinary course.\nThe offering was made on a private placement basis in each of the provinces of Canada, and the debentures were issued pursuant to Morguard's trust indenture dated December 10, 2013, as supplemented. The debentures rank pari passu with Morguard's outstanding senior unsecured debentures.\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.\nAbout Morguard Corporation\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 208 multi-suite residential, retail, office, industrial and hotel properties comprised of 1...