Dream Industrial REIT completes C$800 million debenture offering

On June 17, 2021, Deam Industrial REIT (the “Trust”) completed its private placements of C$800 million aggregate principal amount of unsecured debentures consisting of C$200 million of the 1.662% Series A debentures maturing in 2025, $200 million of three month Canadian dollar offered rate plus 0.35% Series B debentures maturing in 2024 and C$400 million of 2.057% Series C debentures maturing in 2027 (the “Green Bonds”).

The Trust intends to use the net proceeds from the offering to fund a portion of the purchase price for the acquisition of shares of a corporation that owns a portfolio of 31 institutional quality, logistics properties across Europe and, with respect to the net proceeds from the sale of the Green Bonds, will also be used to finance and/or refinance eligible green projects within the meaning of the Trust’s recently announced Green Financing Framework. The Trust may use a portion of the net proceeds to repay existing indebtedness.

Further information can be found on Business Wire’s website.

Dream Industrial REIT is an unincorporated, open-ended real estate investment trust. As at March 31, 2021, the Trust owns and operates a portfolio of 186 assets (280 industrial buildings) comprising approximately 28.8 million square feet of gross leasable area in key markets across North America and a growing presence in strong European industrial markets.