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Artis REIT Completes Offering of $250 Million of 3.824% Series D Senior Unsecured Debentures
Artis REIT Completes Offering of $250 Million of 3.824% Series D Senior Unsecured Debentur...
About this update from Rfa Financial Inc.
[{"type":"text","content":"\n\n\n\nArtis REIT Completes Offering 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. 18, 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. 18, 2020 /CNW/ - Artis Real Estate Investment Trust (\"Artis REIT\") (TSX: AX.UN) announced today that it has closed its previously announced offering of $250 million aggregate principal amount of series D senior unsecured debentures (the \"Debentures\"). The Debentures bear interest at a rate of 3.824% per annum and mature on September 18, 2023. The Debentures were sold on a private placement basis in certain provinces of Canada. The offering was made on an 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.\n\n \n \n \n \n \n \n\n \nDBRS Limited has assigned a final rating to the Debentures of \"BBB (low)\" with a \"Negative\" trend.\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 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 trust investing primarily in office and industrial properties in Canada and the United States. Since 2004, Artis REIT has executed an aggressive but disciplined growth strategy, building a portfolio of commercial properties in select markets in Canada and the United States. As of June 30, 2020,...