Morguard announces C$250 million offering of senior unsecured debentures
On June 11, 2026, Morguard Corporation ("Morguard") announced that it has agreed to issue C$250 million aggregate principal amount of series J senior unsecured debentures. These debentures will bear interest at a rate of 4.307% per annum and will mature on June 18, 2029. The debentures are being offered on an agency basis by a syndicate of agents with RBC Capital Markets and TD Securities acting as joint bookrunners and co-lead agents.
The offering is being made on a private placement basis in each of the provinces of Canada, and the debentures will be issued pursuant to the Trust Indenture, as supplemented. The anticipated closing date of the offering is June 18, 2026.
Morguard also announced that it will redeem all of its outstanding 9.5% Series H senior unsecured debentures due September 26, 2026 on June 22, 2026.
Net proceeds of the offering will be used towards the early redemption of the 2023 Debentures and for general corporate purposes.
Further information can be found on Canada Newswire’s website.
Morguard Corporation is a major North American real estate and property management company. It has extensive retail, office, hotel and residential holdings owned directly and through its investment in Morguard Real Estate Investment Trust and Morguard North American Residential REIT. Morguard also provides real estate management services to institutional and other investors. Morguard's owned and managed portfolio of assets is valued at C$18.7 billion.