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Morguard Announces Completion of $250 Million Offering of 5.00% Series I Senior Unsecured Debentures
Morguard Announces Completion of $250 Million Offering of 5.00% Series I Senior Unsecured Debentu...
About this update from Morguard Corporation
[{"type":"text","content":"\n\n\nMorguard Announces Completion of $250 Million Offering of 5.00% Series I 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.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n\n\n\n\n\nCanada NewsWire\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\nMISSISSAUGA, ON, Oct. 14, 2025 /CNW/ - Morguard Corporation (\"Morguard\") (TSX: MRC) is pleased to announce the successful completion of its previously announced issuance of $250 million aggregate principal amount of series I senior unsecured debentures. These debentures bear interest at a rate of 5.00% per annum and will mature on October 14, 2028. The debentures were offered through a syndicate of underwriters with RBC Capital Markets and TD Securities acting as joint bookrunners and co-lead agents. DBRS Morningstar has provided a rating of \"BB (high)\" with a \"Positive\" trend relating to the debentures.\nThe net proceeds of the offering will be used to repay indebtedness under Morguard's operating lines of credit and for general corporate purposes.\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.\nReflecting on the transaction, Paul Miatello, Chief Financial Officer and Senior Vice President, commented: \"This offering marks a significant milestone for Morguard. Achieving a 5.00% coupon demonstrates the market's confidence in our strategy and financial strength. The exceptional demand is a testament to our proactive approach and strong investor relationships.\"\nAngela Sahi, President and Chief Operating Officer, added: \"Our team's disciplined execution and strategic timing allowed us to secure anchor support from leading Canadian investors. This transaction not only strengthens our balance sheet but also positions Morguard for continued growth and future offerings. We are grateful for the trust...