Business
StorageVault Announces Successful Closing of $50 Million Bought Deal Offering of 5.60% Senior Unsecured Hybrid Debentures
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES...
About this update from Storagevault Canada Inc.
[{"type":"text","content":"StorageVault Announces Successful Closing of $50 Million Bought Deal Offering of 5.60% Senior Unsecured Hybrid Debentures \n\n\n\n\n NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES\n \n\n\n TORONTO, Nov. 28, 2025 (GLOBE NEWSWIRE) --\n \n STORAGEVAULT CANADA INC.\n \n (“\n \n StorageVault\n \n ”) (\n \n SVI-TSX\n \n ) is pleased to announce that, further to its November 12, 2025 and November 25, 2025, news releases, it has completed its previously announced offering of listed senior unsecured hybrid debentures (the “\n \n Debentures\n \n ”) with a syndicate of underwriters co-led by CIBC World Markets Inc. and Scotia Capital Inc. (the “\n \n Joint Bookrunners\n \n ”) and including National Bank Financial Inc., TD Securities Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Canaccord Genuity Corp., Cormark Securities Inc., Desjardins Securities Inc., and Raymond James Ltd. (together with the Joint Bookrunners, the “\n \n Underwriters\n \n ”) on a bought deal basis. A total of $50 million aggregate principal amount of Debentures were issued at a price of $1,000 per Debenture (the “\n \n Offering\n \n ”). StorageVault has also granted the Underwriters an option to purchase up to an additional $7.5 million aggregate principal amount of Debentures, on the same terms and conditions, exercisable in whole or in part, for a period of 30 days following the closing of the Offering.\n \n\n The Debentures bear interest at a rate of 5.60% per annum, payable semi-annually in arrears on June 30 and December 31 of each year, with the first interest payment on June 30, 2026, and will mature on December 31, 2030. The Debentures are expected to commence trading on the Toronto Stock Exchange (“\n \n TSX\n \n ”) under the symbol “SVI.DB.D” on November 28, 2025.\n \n\n StorageVault intends to use the net proceeds of the Offering to initially pay down bank debt, which may be subsequently re-drawn to fund the redemption of the 5.75% listed debentures due January 31, 2026, fund potential future acquisitions and for general corporate purposes‎.\n \n\n The Debentures were offered pursuant to a short-form prospectus dated November 25, 2025 (the “\n \n Prospectus\n \n ”) filed in eac...