Dream Impact completes Canada’s first impact-dedicated convertible debenture offering

On August 3, 2021, Dream Impact Trust (“Dream Impact”) announced the closing of its previously announced private placement of C$30 million aggregate principal amount of convertible unsecured subordinated debentures with certain controlled affiliates of Fairfax Financial Holdings Limited.

Dream Impact intends to use the net proceeds of the private placement to finance, in whole or in part, expenditures associated with eligible impact investments as described in the Trust’s Impact Financing Framework including the financing of the Trust’s planned acquisition, through multiple transactions, of over 900 existing multi-family residential units in the City of Toronto.

The transaction represents the first issuance of convertible unsecured debentures by a public company dedicated to impact investments in Canada.

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

Dream Impact is an open-ended trust dedicated to impact investing. Impact investing is the intention of creating measurable positive, social and environmental change in our communities and for our stakeholders, while generating attractive market returns.

Fairfax is a holding company which, through its subsidiaries, is primarily engaged in property and casualty insurance and reinsurance and the associated investment management.