Chartwell completes issuance of C$200 million of 3.786% Series A senior unsecured debentures

On June 9, 2017, Chartwell Retirement Residences ("Chartwell") completed its previously announced issuance of C$200 million aggregate principal amount of 3.786% Series A senior unsecured debentures, maturing on December 11, 2023. The debentures, unconditionally guaranteed by Chartwell Master Care LP, were offered on a reasonable best efforts agency basis by way of a private placement to "accredited investors" in the Province of Alberta and pursuant to the "minimum amount investment" exemption in each of the other provinces of Canada, by a syndicate of agents co-led by CIBC Capital Markets and BMO Capital Markets with CIBC Capital Markets acting as sole bookrunner.

Chartwell intends to use the net proceeds from the offering to fund a portion of the purchase price of its previously announced acquisitions of three retirement residences in Ontario, for potential future acquisitions, to repay a portion of existing indebtedness under Chartwell's new credit facilities and for general trust purposes.

Chartwell is an unincorporated, open-ended trust which indirectly owns and operates a complete range of seniors housing communities from independent supportive living through assisted living to long term care.

Further information can be found on Marketwired's website.