By Cristal Cody
Tupelo, Miss., Feb. 7 – Artis Real Estate Investment Trust priced C$200 million of series B floating-rate senior debentures (DBRS: BBB) at par to yield CDOR plus 107 basis points, according to terms sheets.
The deal was upsized from C$125 million and priced on the tight side of guidance in the CDOR plus 110 bps area, plus or minus 3 bps.
BMO Nesbitt Burns Inc., RBC Dominion Securities Inc. and Scotia Capital Inc. were the bookrunners.
Artis plans to use the proceeds to partially repay debt outstanding on its credit facilities.
The real estate investment trust focused on office, retail and industrial properties is based in Winnipeg, Man.
| Issuer: | National Bank of Canada
|
| Amount: | C$200 million
|
| Maturity: | Feb. 7, 2020
|
| Securities: | Floating-rate senior debentures
|
| Bookrunners: | BMO Nesbitt Burns Inc., RBC Dominion Securities Inc. and Scotia Capital Inc.
|
| Co-managers: | CIBC World Markets Inc., National Bank Financial Inc., TD Securities Inc., Canaccord Genuity Corp., Desjardins Securities Inc. and Raymond James Ltd.
|
| Coupon: | CDOR plus 107 bps
|
| Price: | Par
|
| Yield: | CDOR plus 107 bps
|
| Call feature: | None
|
| Pricing date: | Feb. 2
|
| Settlement date: | Feb. 7
|
| Rating: | DBRS: BBB
|
| Distribution: | Canada shelf
|
| Price talk: | CDOR plus 110 bps area, plus or minus 3 bps
|
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