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Morguard Announces $200 Million Offering of 4.085% Series D Senior Unsecured Debentures
Morguard Announces $200 Million Offering of 4.085% Series D Senior Unsecured Debentures ...
About this update from Morguard Corporation
[{"type":"text","content":"\n\n\n\nMorguard Announces $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 10, 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 10, 2018 /CNW/ - Morguard Corporation (\"Morguard\") (TSX: MRC) announced today that it has agreed to issue $200 million aggregate principal amount of series D senior unsecured debentures. These debentures will bear interest at a rate of 4.085% per annum and will mature on May 14, 2021. The debentures are being 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 assigned a provisional 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 is being made pursuant to Morguard's base shelf prospectus dated November 23, 2017. The terms of the offering will be described in a prospectus supplement to be filed with the securities regulators in each of the provinces and territories of Canada, except Quebec.\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 compr...