Morguard completes C$200 million offering of 4.013% Series B senior unsecured debentures

On November 18, 2016, Morguard Corporation ("Morguard") completed its previously announced issuance of C$200 million aggregate principal amount of series B senior unsecured debentures. These debentures bear interest at a rate of 4.013% per annum and mature on November 18, 2020. The debentures 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.

The net proceeds of the offering will be used for the repayment of first mortgage indebtedness, indebtedness under operating lines of credit and for general corporate purposes.

Morguard is a real estate company, with total assets owned and under management valued at C$19.9 billion. Morguard owns a diversified portfolio of 176 multi-suite residential, retail, office, industrial and hotel properties comprised of 18,286 residential suites, approximately 16.0 million square feet of commercial leasable space and 1,473 hotel rooms.

Further information can be found on Canada Newswire's website.