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Morguard Announces $250 Million Offering of 5.00% Series I Senior Unsecured Debentures
Morguard Announces $250 Million Offering of 5.00% Series I Senior Unsecured Debentures ...
About this update from Morguard Corporation
[{"type":"text","content":"\n\n\n\n Morguard Announces $250 Million Offering of 5.00% Series I Senior Unsecured Debentures\n \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 Canada NewsWire\n \n\n\n\n /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n\n\n\n MISSISSAUGA, ON\n \n\n ,\n \n\n Oct. 8, 2025\n \n\n /CNW/ - Morguard Corporation (\"Morguard\") (TSX: MRC) announced today that it has agreed to issue\n \n $250 million\n \n aggregate principal amount of series I senior unsecured debentures. These debentures will bear interest at a rate of 5.00% per annum and will mature on\n \n October 14, 2028\n \n . The anticipated closing date of the transaction is\n \n October 14, 2025\n \n . The debentures are being offered through a syndicate of underwriters with RBC Capital Markets and TD Securities acting as joint bookrunners and co-lead agents. DBRS Morningstar has assigned a provisional rating of \"BB (high)\" with a \"Positive\" trend relating to the debentures.\n \n\n The net proceeds of the offering will be used to repay indebtedness under Morguard's operating lines of credit and for general corporate purposes.\n \n\n The offering is being made on a private placement basis in each of the provinces of\n \n Canada\n \n , and the debentures will be issued pursuant to Morguard's trust indenture dated\n \n December 10, 2013\n \n , as supplemented. The debentures will rank pari passu with Morguard's outstanding senior unsecured debentures.\n \n\n The debentures offered have not been registered under the U.S. Securities Act of 1933, as amended (the \"U.S. Securities Act\"), and may not be offered or sold in\n \n the United States\n \n 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 \n\n\n About Morguard Corporation\n \n\n\n Morguard Corporation is a major North ...