Avenue Living completes C$250 million inaugural senior unsecured notes offering
Torys acted as counsel to Avenue Living with a team that included Scott Cochlan, Janan Paskaran, Jennifer Marshall and Aleem Merali (corporate/securities) and Steve Marshall (tax).
On May 12, 2025, Avenue Living (2014) LP (“Avenue Living”) announced the completion of its inaugural offering of C$250 million aggregate principal amount of Series A senior unsecured notes, maturing May 12, 2030. Led by RBC Capital Markets, the notes were offered on a private placement basis in each of the provinces of Canada.
The notes bear interest at a fixed annual rate of 5.109% per annum, payable in equal semi-annual instalments in arrears on May 12 and November 12 in each year, commencing on November 12, 2025, until maturity, unless redeemed at an earlier date.
Net proceeds from the offering will be used to refinance existing indebtedness and for general corporate purposes.
Concurrent with the announcement of the offering, Avenue Living also announced the establishment of a new C$250 million revolving credit facility, reinforcing its strong liquidity position.
Further information can be found on Globe Newswire’s website.
Avenue Living is a property owner/operator with over C$7.4 billion in assets under management across more than 50 markets in Canada and the United States.