Loblaw Finance Trust completes sale of C$1 billion of senior unsecured debentures of Choice Properties Limited Partnership
On May 12, 2014, Loblaw Finance Trust (Loblaw) completed the sale of four series of senior unsecured debentures of Choice Properties Limited Partnership (Choice Properties), including C$200 million aggregate principal amount of 3.00% Series 7 debentures due Sept. 20, 2019, C$300 million aggregate principal amount of 3.60% Series 8 debentures due Apr. 20, 2020, C$200 million aggregate principal amount of 3.60% Series 9 debentures due Sept. 20, 2021 and C$300 million aggregate principal amount of 3.60% Series 10 debentures due Sept. 20, 2022, for aggregate net proceeds of approximately C$1,001,830,890.
The debentures were sold on a private placement basis in Canada through a syndicate of agents.
Choice Properties is the operating subsidiary of Choice Properties REIT, one of Canada's largest REITs, with a portfolio comprising 456 properties spanning approximately 37.6 million square feet.
Loblaw is Canada's largest food retailer and a leading provider of drugstore, general merchandise and financial products and services.