Omers Realty's C$420 million in two tranches of senior secured bonds on calendar

By Cristal Cody

Prospect News, Nov. 13 - An offering from Omers Realty Corp. for C$420 million in two tranches of Centennial Place senior secured bonds (DBRS: A provisional) is in the pipeline for November, according to a bond source.

The deal includes C$210 million of series A bonds due 2022 and C$210 million of series B bonds due 2017.

RBC Capital Markets LLC is the bookrunner.

The bonds are secured by Centennial Place, an office complex built in 2010 in downtown Calgary, Alta.

Proceeds will be used to repay intercompany debt.

The office and retail property owner is a subsidiary of Canadian pension fund Omers Administration Corp.

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