SmartREIT calls C$190 million 4.7% notes due 2018, 5% notes due 2019

By Wendy Van Sickle

Columbus, Ohio, Aug. 15 – Smart Real Estate Investment Trust called its C$100 million 5% series F unsecured debentures due Feb. 1, 2019 and its C$90 million 4.7% series G senior secure subordinated debentures due Aug. 22, 2018.

The debentures will be redeemed Sept. 14, according to a news release. The series F debentures will be redeemed at C$1,091.347019 per C$1,000 principal, and the series G dbentures will be redeemed at C$1,066.705151 per C$1,000 principal. The issuer will also pay accrued interest.

The company will fund the redemptions with proceeds of its C$350 million offering of 2.987% debentures due 2024 and 3.444% debentures due 2026, which is expected to settle Aug. 30.

The Vaughan, Ont.-based real estate investment trust owns and manages principally Walmart-anchored retail centers.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.