Dundee REIT completes USD150m series C senior unsecured debenture
Dundee REIT has completed its issuance of USD150m aggregate principal amount of series C senior unsecured debentures.
The debentures bear interest at a rate of 4.074 per cent per annum and will mature on 21 January 2020.
The underwriting syndicate was co-led by TD Securities, RBC Capital Markets and Scotia Capital. TD Securities was the sole bookrunner for the offering.
DBRS Limited has assigned the debentures a BBB (low) rating with a stable trend.
The offering was made under Dundee REIT's base shelf prospectus dated 26 November 2012 and the debentures were issued pursuant to Dundee REIT's trust indenture dated 13 June 2013, as supplemented.
These debentures rank pari passu with Dundee REIT's other outstanding senior unsecured debentures.
The net proceeds of the offering will be used for the repayment of existing indebtedness and for general trust purposes.
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