Dream Industrial REIT completes C$200 million green bond offering
Torys acted as counsel to the syndicate of agents led by TD Securities, Scotia Capital, RBC Capital Markets and CIBC Capital Markets with a team that included Rima Ramchandani, Brett Saulnier and Parker Baglole (corporate/securities), Scarlett O'Shea (real estate) and Michael Fortier (environmental).
On April 13, 2022, Dream Industrial REIT (the “Trust”) announced the closing of its previously announced private placement of senior unsecured debentures consisting of C$200 million aggregate principal amount of 3.968% senior unsecured debentures, Series E maturing on April 13, 2026.
The debentures were offered on an agency basis by a syndicate of agents led by TD Securities Inc., Scotia Capital Inc., RBC Dominion Securities Inc. and CIBC.
An amount equal to the net proceeds from the offering is expected to be utilized to finance and/or refinance eligible green projects within the meaning of the Trust’s Green Financing Framework established in June 2021.
The offering is the Trust’s third “green bond” offering.
Further information can be found on Business Wire’s website.
Dream Industrial REIT is an unincorporated, open-ended real estate investment trust. As at December 31, 2021, the Trust owns and operates a portfolio of 239 industrial assets (351 buildings) comprising approximately 43 million square feet of gross leasable area in key markets across Canada, Europe, and the U.S.