Choice Properties completes C$350 million issuance of Series T senior unsecured debentures
On August 1, 2023, Choice Properties Real Estate Investment Trust (“Choice Properties”) announced that it completed its previously announced issuance, on a private placement basis in certain provinces of Canada, C$350 million aggregate principal amount of series T senior unsecured debentures bearing interest at a rate of 5.699% per annum and maturing on February 28, 2034.
Choice Properties intends to use the net proceeds of the offering
- to repay all or a portion of the balance drawn on Choice Properties’ credit facility, and
- for general business purposes.
The debentures were sold on an agency basis by a syndicate of agents co-led by RBC Capital Markets, Scotiabank, TD Securities, BMO Capital Markets and CIBC Capital Markets.
Further information can be found on Business Wire’s website.
Choice Properties is a leading real estate investment trust that creates value through the ownership, operation and development of high-quality commercial and residential properties.