Morguard completes C$225 million offering of 4.204% Series F senior unsecured debentures
On November 27, 2019, Morguard Corporation ("Morguard") announced that it completed its previously announced issuance of C$225 million aggregate principal amount of series F senior unsecured debentures. These debentures bear interest at a rate of 4.204% per annum and mature on November 27, 2024. The debentures were offered on an agency basis by a syndicate of agents with RBC Capital Markets and TD Securities Inc. acting as joint bookrunners and co-lead agents.
The net proceeds of the offering will be used for the repayment of certain indebtedness incurred in the ordinary course.
Further information can be found on Canada Newswire's website.
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 208 multi-suite residential, retail, office, industrial and hotel properties comprised of 17,638 residential suites, approximately 17 million square feet of commercial leasable space and 5,903 hotel rooms.