Choice Properties completes C$300 million issuance of Series V senior unsecured debentures
Torys acted as counsel to Choice Properties with a team that included Michael Zackheim and Shaoor Ahmad (corporate/securities).
On January 16, 2025, Choice Properties Real Estate Investment Trust (“Choice Properties”) completed its previously announced issuance, on a private placement, of C$300 million aggregate principal amount of series V senior unsecured debentures, bearing interest at a rate of 4.293% per annum and maturing on January 16, 2030.
The debentures were sold at par and offered on an agency basis by a syndicate of agents co-led by RBC Capital Markets, Scotiabank, TD Securities, BMO Capital Markets, and CIBC Capital Markets.
Choice Properties intends to use the net proceeds of the offering to repay certain amounts drawn on its revolving credit facility which were utilized to repay upon maturity its C$350 million aggregate principal amount of 3.546% series J senior unsecured debentures, and for general business purposes.
Further information can be found on Business Wire’s website.
Choice Properties is a leading real estate investment trust that creates enduring value through places where people thrive.