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DBRS rates OMERS debentures AA (low)
DBRS said it assigned a rating of AA (low) with a stable trend to OMERS Realty Corp.’s C$565 million senior unsecured debentures.
The debentures were issued in two tranches consisting of C$250 million 2.473% series 5 senior unsecured debentures due Nov. 12, 2019 and C$315 million 3.328% series 6 senior unsecured debentures due Nov. 12, 2024.
The debentures are direct unsecured obligations of OMERS and rank pari passu with all other present and future unsecured and unsubordinated indebtedness of the company, DBRS said.
The proceeds will be used to repay certain indebtedness of the company, the agency said.
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