Transaction|December 5, 2013
Morguard completes C$135 million offering of debentures
Torys acted as counsel to the agents led by RBC Dominion Securities and TD Securities with a team that included Simon Knowling, Michael Zackheim, Christian Thatcher (corporate/securities), Michael Fortier (environmental), Richard Missaghie (real estate) and Grace Pereira (tax).
On December 10, 2013, Morguard Corporation (Morguard) announced that it completed its previously announced issuance of C$135 million aggregate principal amount of series A senior unsecured debentures. The debentures, announced December 5, 2013, 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. Bearing interest at a rate of 4.099% per annum, the debentures will mature on December 10, 2018.
The net proceeds of the offering will be used for the repayment of indebtedness under Morguard's operating lines of credit and for general corporate purposes.
Morguard is a major North American real estate and property management company, with extensive retail, office, industrial and residential holdings owned directly and through its investment in Morguard REIT and Morguard North American Residential REIT.
Further information can be found on Digital Journal's website.
The net proceeds of the offering will be used for the repayment of indebtedness under Morguard's operating lines of credit and for general corporate purposes.
Morguard is a major North American real estate and property management company, with extensive retail, office, industrial and residential holdings owned directly and through its investment in Morguard REIT and Morguard North American Residential REIT.
Further information can be found on Digital Journal's website.