SmartCentres REIT completes C$350M issuance of Series T unsecured debentures

Date Closed

March 25, 2019

Lead Office

Toronto

Value

350.00 Million CAD

On March 25, 2019, SmartCentres Real Estate Investment Trust ("SmartCentres") announced that it has completed an issuance through a syndicate of agents of C$350 million aggregate principal amount of 2.757% Series T senior unsecured debentures, due June 23, 2021. SmartCentres plans to use the proceeds of the issuance to repay existing indebtedness and for general trust purposes.

The agents included Scotia Capital Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., TD Securities Inc., Desjardins Securities Inc., Canaccord Genuity Corp., Raymond James Ltd., GMP Securities L.P., Industrial Alliance Securities Inc., Casgrain & Company Limited and HSBC Securities (Canada) Inc.

SmartCentres is a large Canadian real estate investment trust with assets of approximately C$9.4 billion. Based in Vaughan, Ontario, it owns and manages 34 million square feet of retail space.

McCarthy Tétrault LLP advised the agents with a team led by Andrew Parker that included Heidi Gordon, Vanessa Chung and Eric Frydrych (Business) and Gabrielle Richards (Tax).

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