Choice Properties completes C$750 million private placement of senior unsecured debentures

On June 11, 2019, Choice Properties Real Estate Investment Trust ("Choice Properties") completed its previously announced issuance, on a private placement basis in certain provinces of Canada, of C$750 million aggregate principal amount of Series M senior unsecured debentures, bearing interest at a rate of 3.532% per annum and maturing on June 11, 2029.

The debentures were sold on an agency basis by a syndicate of agents co-led by RBC Capital Markets, BMO Capital Markets, TD Securities, CIBC Capital Markets and Scotiabank.

The net proceeds of the offering will be used by Choice Properties to repay existing indebtedness, some of Choice Properties' unsecured term loans and for general business purposes.

Choice Properties is a Canadian diversified real estate investment trust, and the owner, manager and developer of a high-quality portfolio comprised of retail properties and industrial, office and residential assets.

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