GO Residential Operating LLC closes C$325 million inaugural senior unsecured debenture offering
On February 13, 2026, GO Residential Real Estate Investment Trust (the "REIT") announced that its operating subsidiary, GO Residential Operating LLC ("OpCo"), completed its previously announced private placement offering of C$325 million principal amount of senior unsecured debentures maturing on February 13, 2029.
The debentures were sold at par and were offered on a private placement basis in each of the provinces and territories of Canada by a syndicate of agents led by CIBC Capital Markets (as lead bookrunner), and included RBC Capital Markets (as co-lead manager), BMO Capital Markets and Desjardins Securities.
The debentures bear interest at a fixed annual rate of 4.534% per annum, payable in equal semi-annual instalments in arrears on February 13 and August 13 in each year, commencing on August 13, 2026 until maturity, unless redeemed at an earlier date. The debentures are direct senior unsecured obligations of OpCo and rank equally and rateably with all other unsecured and unsubordinated indebtedness of OpCo, except to the extent prescribed by law.
In connection with the offering, OpCo entered into a forward cross-currency interest rate swap whereby both the interest rate and principal of the debentures were fully hedged, resulting in gross proceeds of approximately US$240 million with the same principal maturity and a US$ equivalent swapped fixed annual interest rate of 5.552%.
Net proceeds from the offering will be used by OpCo to repay existing indebtedness under its credit facility and for general corporate purposes, including possible acquisitions and/or other investments.
Further information can be found on Canada Newswire’s website.
GO Residential Real Estate Investment Trust is a newly created, internally managed, open ended real estate investment trust established under, and governed by, the laws of the Province of Ontario. It was formed to provide investors with an opportunity to invest in luxury high-rise multifamily properties ("LHRs") located in the New York metropolitan area and other major metropolitan cities in the United States. The REIT will initially own and operate a portfolio of five LHRs consisting of 2,015 luxury suites located in the borough of Manhattan, New York.