07:06 AM EDT, 10/22/2024 (MT Newswires) -- Chartwell Retirement Residences (CSH-UN.TO) overnight Monday said it will issue $150 million of Series D senior unsecured debentures. The debentures, with an interest rate of 4.4% per annum, will mature on November 5, 2029 and will be unconditionally guaranteed.

The offering is expected to close on October 28. DBRS has assigned a provisional rating of "BBB (low)" with a "Stable" trend to the debentures, which meets a closing condition.

Proceeds will be used to pay down debt and to partially finance certain acquisitions of retirement residences expected to close in the fourth quarter.