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DBRS rates Teranet bonds BBB
DBRS said it assigned a BBB rating with a stable trend to Teranet Holdings LP’s C$300 million of 3.94% series 2020-2 senior secured bonds due Dec. 15, 2030.
The BBB rating is based on an already-outstanding series of the debt mentioned above, DBRS said.
Teranet issued the bonds from the May 21, offering memorandum and mature. DBRS noted Teranet sold C$550 million of 3.544% series 2020-1 senior secured bonds on June 11. The total amount raised is C$850 million.
Proceeds will be used to refinance the remaining C$300 million of series 2010-2 senior secured bonds, which mature Dec.16.
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