Choice Properties REIT completes C$350M private placement of senior unsecured debentures
August 1, 2023
350.00 Million CAD
On August 1, 2023, Choice Properties Real Estate Investment Trust ("Choice Properties") completed its C$350 million private placement of series T senior unsecured debentures (the "Debentures") of the Trust that bear interest at a rate of 5.699% per annum and mature on February 28, 2034. Choices Properties intends to use the net proceeds to repay the balance drawn on the Trust's credit facility and for general business purposes.
The Debentures were sold on an agency basis by a syndicate of agents co-led by RBC Dominion Securities, Scotiabank, TD Securities, BMO Capital Markets, and CIBC Capital Markets.
McCarthy Tétrault advised RBC Dominion Securities with a team led by Andrew Parker and Jeremy Pleasant that included Ella Hantho (Business).