DBRS rates Artis preferreds Pfd-3 (low)

DBRS said it assigned Pfd-3 (low) with a stable trend to the C$125 million series I cumulative minimum-rate reset preferred trust units issued by Artis Real Estate Investment Trust.

The agency said the preferred units rank at least equally with all other series of preferred trust units and rank in priority to Artis’s ordinary trust units and over any other units ranking junior to the series I preferred trust units.

DBRS said it understands that the net proceeds from the offering will be used to redeem its existing series C dollar-denominated cumulative redeemable preferred trust units and for general trust purposes.

© 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.