SmartREIT calls all C$150 million 3.385% series J debentures due 2017

By Marisa Wong

Morgantown, W.Va., March 14 – Smart Real Estate Investment Trust (SmartREIT) issued a notice of redemption to holders of its 3.385% series J senior debentures due Dec. 1, 2017.

The series J debentures will be redeemed in full on April 13, according to a press release.

The redemption price will be C$1,014.706130 plus accrued interest of C$12.427123 per C$1,000 principal amount.

SmartREIT intends to use proceeds from its new C$150 million issue of 2.876% series Q senior debentures to fund the redemption.

As of the close of trading on March 13, the total principal amount of series J debentures outstanding was C$150 million.

The real estate investment trust is based in Toronto.

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