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Artis REIT Announces Pricing of $250 Million of 3.824% Series D Senior Unsecured Debentures
Artis REIT Announces Pricing of $250 Million of 3.824% Series D Senior Unsecured Debenture...
About this update from Rfa Financial Inc.
[{"type":"text","content":"\n\n\n\nArtis REIT Announces Pricing of $250 Million of 3.824% 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\n\n\n\n\n\n\nCanada NewsWire\nWINNIPEG, MB, Sept. 15, 2020\n\n\n\n/NOT FOR DISSEMINATION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n WINNIPEG, MB, Sept. 15, 2020 /CNW/ - Artis Real Estate Investment Trust (\"Artis REIT\") (TSX: AX.UN) announced today that it has agreed to issue $250 million aggregate principal amount of series D senior unsecured debentures (the \"Debentures\"). The Debentures will bear interest at a rate of 3.824% per annum and will mature on September 18, 2023. The Debentures are being offered on a best efforts agency basis by a syndicate of agents led by BMO Capital Markets and Scotia Capital Inc., as joint lead bookrunners, and RBC Dominion Securities Inc. as additional joint lead. The offering is expected to close on or about September 18, 2020, subject to satisfaction of customary closing conditions. DBRS Limited has assigned a provisional rating of \"BBB (low)\" with a \"Negative\" trend to the Debentures. It is a condition to the closing of the offering that DBRS Limited assign a final rating to the Debentures of \"BBB (low)\" with a \"Negative\" trend.\n\n \n \n \n \n \n \n\n \nArtis REIT intends to use the net proceeds from the offering to repay existing indebtedness outstanding on its credit facilities and for general trust purposes.\nThe offering is being made by way of a private placement in each of the provinces of Canada.\nThe Debentures 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 Artis Real Estate Investment Trust\nArtis REIT is a diversified Canadian real estate investment...