By Wendy Van Sickle
Columbus, Ohio, May 12 – Allied Properties Real Estate Investment Trust priced an upsized C$300 million of 3.131% eight-year senior debentures (Baa2//DBRS: BBB) on Tuesday, according to a news release.
Scotia Capital Inc., CIBC World Markets Inc. and TD Securities Inc. were the bookrunners.
The deal was upsized from initial talk of C$200 million.
Allied Properties REIT plans to use the proceeds to repay amounts drawn on its unsecured line of credit and for general trust purposes.
Toronto-based Allied Properties is a real estate investment trust that owns, manages and develops office properties in Canada.
Issuer: | Allied Properties Real Estate Investment Trust
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Amount: | C$300 million
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Maturity: | May 15, 2028
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Securities: | Series G senior debentures
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Bookrunners: | Scotia Capital Inc., CIBC World Markets Inc. and TD Securities Inc.
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Coupon: | 3.131%
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Pricing date: | May 12
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Settlement date: | May 15
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Ratings: | Moody’s: Baa2
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| DBRS: BBB
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Distribution: | Canada shelf
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