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SmartCentres Closes $350 Million Series AA Senior Unsecured Debenture Issue
SmartCentres Closes $350 Million Series AA Senior Unsecured Debenture Issue Canada News...
About this update from Smartcentres Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\n SmartCentres Closes $350 Million Series AA Senior Unsecured Debenture Issue\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.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n /NOT FOR DISTRIBUTION IN\n \n THE UNITED STATES\n \n OR OVER\n \n UNITED STATES\n \n WIRE SERVICES/\n \n\n\n\n TORONTO\n \n\n ,\n \n\n Aug. 1, 2024\n \n\n /CNW/ - SmartCentres Real Estate Investment Trust (\"SmartCentres\" or the \"Trust\") (TSX: SRU.UN) announced today that it has closed its previously announced private placement of\n \n $350 million\n \n aggregate principal amount of 5.162% Series AA senior unsecured debentures. The Series AA debentures will mature on\n \n August 1\n \n , 2030.  The debentures were offered on an agency basis by a syndicate of agents led by Scotiabank, CIBC Capital Markets, Desjardins Securities, RBC Capital Markets and TD Securities as joint bookrunners, and National Bank Financial, Mizuho Securities, BMO Capital Markets and\n \n Casgrain\n \n as co-managers. Morningstar DBRS has provided SmartCentres with a credit rating of BBB with a stable trend relating to the debentures.\n \n\n The net proceeds to SmartCentres from the sale of the Series AA debentures, will be used to refinance existing debt, including the repayment of its\n \n $100 million\n \n Series O senior unsecured debentures due\n \n August 28, 2024\n \n , and for general corporate purposes.\n \n\n This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities in any jurisdiction. The debentures offered have not been and will not be registered under the U.S. Securities Act of 1933 and state securities laws. Accordingly, the debentures may not be offered or sold to U.S. persons except pursuant to applicable exemptions from registration requirements.\n \n\n\n About SmartCentres\n \n\n\n SmartCentres is one of\n \n Canada's\n \n largest fully integrated REITs, with a best-in-class and growing mixed-use portfolio featuring 193 strategically located properties in communities across the ...