Transactions & Cases Detail



Transaction/Case Details

Calloway REIT closes C$150 million Series J senior unsecured debenture offering

DATE CLOSED

August 7, 2013

BUSINESS SECTOR

Financial Services

LEAD OFFICE

Toronto

VALUE

150 Million CAD


OVERVIEW

On August 7, 2013, Calloway Real Estate Investment Trust (Calloway or the REIT) announced that it had closed its previously announced C$150 million principal amount issue of Series J senior unsecured debentures. These debentures carry a coupon rate of 3.385% and mature on December 1, 2017.

Calloway intends to apply the net proceeds from the offering towards the purchase price for its previously announced acquisitions of four shopping centres located in Ottawa, Kanata, Niagara Falls and Port Perry, Ontario which are anticipated to close later in the third quarter of 2013.

The issue was offered by a syndicate of dealers co-led by RBC Capital Markets, BMO Nesbitt Burns and CIBC.

Calloway Real Estate Investment Trust, headquartered in Vaughan, Ontario, is one of Canada's largest real estate investment trusts with total assets of approximately C$7 billion. Calloway owns and manages approximately 26 million square feet in 115 value oriented retail centres having the strongest national and regional retailers, as well as strong neighbourhood merchants.

McCarthy Tétrault LLP represented RBC, BMO and CIBC, the co-leads of the syndicate of dealers. The team consisted of Andrew Parker, Graham Gow and Jake Irwin.

Contact


 
For general information on McCarthy Tétrault Transactions & Cases, please contact [email protected].

Related Area of Expertise


Capital Markets
read /

Financial Services
read /

Leasing
read /

Real Estate
read /

Tax
read /