By Cristal Cody
Eureka Springs, Ark., May 9 – Allied Properties REIT announced on Monday that it sold C$150 million of 3.934% series B senior debentures.
The debentures (DBRS: BBB) are due Nov. 14, 2022.
BMO Capital Markets, Scotia Capital Inc. and TD Securities Inc. were the lead managers.
Allied intends to use the proceeds to fund a portion of the purchase price of properties in Montreal previously announced on May 4, to repay amounts drawn on Allied’s unsecured credit facility used for general capital funding related to Allied’s capital improvements, acquisitions and intensification projects and for general working capital purposes.
The real estate investment trust is based in Toronto.
| Issuer: | Allied Properties REIT
|
| Amount: | C$150 million
|
| Maturity: | Nov. 14, 2022
|
| Securities: | Senior debentures
|
| Bookrunners: | BMO Capital Markets, Scotia Capital Inc., TD Securities Inc.
|
| Coupon: | 3.934%
|
| Pricing date: | May 9
|
| Settlement date: | May 12
|
| Rating: | DBRS: BBB
|
| Distribution: | Canada
|
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