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SmartCentres Real Estate Investment Trust Announces $500 Million Series AC and Series AD Senior Unsecured Debenture Issues
Not for Distribution in the United States or Over United States Wire Services SmartCent...
About this update from Smartcentres Real Estate Investment Trust
[{"type":"text","content":"SmartCentres Real Estate Investment Trust Announces $500 Million Series AC and Series AD Senior Unsecured Debenture Issues\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n.bwuline { text-decoration: underline }\n \n\n\n\n Not for Distribution in the United States or Over United States Wire Services\n \n\n\n\n SmartCentres Real Estate Investment Trust (“SmartCentres” or the “Trust”) (TSX:SRU.UN) announced today that it has priced an offering of $250 million aggregate principal amount of 3.599% Series AC senior unsecured debentures and $250 million aggregate principal amount of 4.318% Series AD senior unsecured debentures on an agency basis. The Series AC debentures will mature on June 12, 2029 and the Series AD debentures will mature on June 12, 2032. The debentures are being offered by a syndicate of agents with 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 Beacon as co-managers. The two offerings are expected to close on or about November 12, 2025. Morningstar DBRS has provided SmartCentres with a provisional credit rating of BBB with a stable trend relating to the debentures.\n \n\n SmartCentres intends to use the net proceeds of the offering to refinance existing debt, including the repayment of its $350 million Series X senior unsecured debentures due December 16, 2025, the repayment of its revolving credit line and certain mortgages and for general corporate purposes.\n \n\n This offering is being made by way of a private placement to certain accredited investors in each of the provinces and territories of Canada.\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 being 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\n About SmartCentres\n \n\n\n\n SmartCentres is one of Canada’s largest fully integrated REITs, with a best-in-class and growing mixed-use portfolio featuring 197 strategically located properties i...