Morguard completes C$200 million offering of 4.085% Series D senior unsecured debentures

Torys acted as counsel to the underwriters co-led by RBC Capital Markets and TD Securities with a team that included Simon Knowling, Michael Zackheim and Riley Harmon (corporate/securities).

On May 14, 2018, Morguard Corporation ("Morguard") announced that it completed the previously announced issuance of C$200 million aggregate principal amount of Series D senior unsecured debentures. These debentures bear interest at a rate of 4.085% per annum and mature on May 14, 2021. The debentures were offered on an agency basis by a syndicate of agents co-led by RBC Capital Markets and TD Securities Inc., with RBC Capital Markets acting as bookrunner.

The net proceeds of the offering will be used for the repayment of indebtedness under operating lines of credit and for general corporate purposes.

Morguard is a real estate company, with total assets owned and under management valued at C$21.3 billion. It owns a diversified portfolio of 210 multi-suite residential, retail, office, industrial and hotel properties comprised of 18,129 residential suites, approximately 16.6 million square feet of commercial leasable space and 5,557 hotel rooms.

Further information can be found on Canada Newswire's website.