Choice Properties REIT completes C$500 million issuance of Series W and Series X senior unsecured debentures
Torys acted as counsel to Choice Properties with a team that included Michael Zackheim, Arron Chahal and Jaidyn McEwen (corporate/securities).
On August 8, 2025, Choice Properties Real Estate Investment Trust ("Choice Properties”) completed its previously announced issuance, on a private placement basis, of C$500 million aggregate principal amount of senior unsecured debentures, including (i) C$350 million aggregate principal amount of Series W senior unsecured debentures bearing interest at a rate of 4.628% per annum and maturing on August 8, 2035 and (ii) C$150 million aggregate principal amount of Series X senior unsecured debentures bearing interest at a rate of 5.369% per annum and maturing on August 8, 2055.
The debentures were sold on an agency basis by a syndicate of agents co-led by TD Securities, CIBC Capital Markets, RBC Capital Markets, BMO Capital Markets, and Scotiabank.
Choice Properties intends to use the net proceeds to repay existing indebtedness, including the redemption in full of its C$200 million aggregate principal amount of 4.055% series F senior unsecured debentures due November 24, 2025 on September 5, 2025, and for general business purposes.
Further information can be found on Canada Newswire's website.
Choice Properties is a leading real estate investment trust that creates enduring value through places where people thrive.