Business
Sienna Announces Pricing of $125 Million Aggregate Principal Amount of 2.82% Series C Senior Unsecured Debentures
Sienna Announces Pricing of $125 Million Aggregate Principal Amount of 2.82% Series C Sen...
About this update from Sienna Senior Living Inc.
[{"type":"text","content":"\n \n \n \n Sienna Announces Pricing of $125 Million Aggregate Principal Amount of 2.82% Series C 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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n /NOT FOR DISSEMINATION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n MARKHAM, ON\n \n ,\n \n May 17, 2021\n \n /CNW/ - Sienna Senior Living Inc. (\"\n \n Sienna\n \n \") (TSX: SIA) announced today that it has agreed to issue\n \n $125 million\n \n aggregate principal amount of series C senior unsecured debentures (the \"\n \n Debentures\n \n \"). The Debentures will bear interest at a rate of 2.82% per annum and will mature on March 31, 2027. The Debentures are being offered (the \"\n \n Offering\n \n \") on a best efforts agency basis by a syndicate of agents led by TD Securities, BMO Nesbitt Burns Inc. and CIBC Capital Markets, as joint lead agents and bookrunners. The Offering is expected to close on or about\n \n June 3, 2021\n \n , subject to satisfaction of customary closing conditions. DBRS Limited has assigned a provisional rating of \"BBB\" with a \"Stable\" 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\" with a \"Stable\" trend.\n \n \n Sienna intends to use the net proceeds from the Offering to repay existing indebtedness and for general corporate purposes.\n \n \n The Offering is being made by way of a private placement in each of the provinces of\n \n Canada\n \n .\n \n \n The Debentures have not been registered under the U.S. Securities Act of 1933, as amended, 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 Sienna Senior Living\n \n \n \n \n Sienna Senior Living Inc...