By Rebecca Melvin
New York, Sept. 5 – Artis Real Estate Investment Trust sold a C$75 million add-on to its series A senior unsecured debentures, which were originally issued on March 27, 2014, at C$101.242 per principal amount plus C$1.71712603 of interest accrued, according to a news release.
The additional debentures of the Regulation S deal bring the total outstanding in this issue up to C$200 million.
The offering is being made under the real estate investment trust’s base shelf prospectus of July 17 and is expected to close Sept. 10.
The securities are being sold on a bought deal basis by a syndicate led by BMO Capital Markets and mature on March 27, 2019.
Proceeds will be used to repay debt and for general corporate purposes.
Artis is a Winnipeg, Man.-based real estate investment trust focused on commercial properties, including office, industrial and retail space.
Issuer: | Artis Real Estate Investment Trust
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Issue: | Debentures
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Amount: | C$75 million add-on
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Maturity: | March 27, 2019
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Underwriters: | Syndicate led by BMO Capital Markets
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Coupon: | 3.753%
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Price: | C$101.242 plus interest
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Yield: | 3.455%
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Pricing date: | Sept. 5
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Settlement date: | Sept. 10
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Stock symbol: | Toronto: AX-UN
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Distribution: | Regulation S
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Total amount: | C$200 million
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