By Abigail W. Adams
Portland, Me., May 31 – Dream Impact Trust agreed to sell C$40 million of 5.75% convertible debentures due 2027 at par with a conversion price of C$8.00, according to a company news release.
TD Securities Inc. and Scotiabank are leading the syndicate of underwriters for the offering, which will be marketed via short form prospectus in all provinces in Canada.
The notes are non-callable until Dec. 31, 2025.
Net proceeds will be used eligible impact investments in accordance with the company’s impact financing framework.
Dream Impact Trust is a Toronto-based open-ended trust focused on impact investing.
| Issuer: | Dream Impact Trust
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| Amount: | C$40 million
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| Issue: | Convertible debentures
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| Maturity: | Dec. 31, 2027
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| Bookrunners: | TD Securities Inc. and Scotiabank
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| Coupon: | 5.75%
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| Price: | Par
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| Conversion price: | C$8.00
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| Call options: | Non-callable until Dec. 31, 2025
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| Pricing date: | May 31
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| Settlement date: | June 9
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| Distribution: | Off shelf
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| Stock symbol: | TSX: MPCT.UN
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| Market capitalization: | C$389.26 million
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