06:58 AM EDT, 10/09/2024 (MT Newswires) -- Crombie Real Estate Investment Trust (CRR-UN.TO) overnight Tuesday said it will issue $300 million of Series M senior unsecured notes maturing January 15, 2032. The notes will bear 4.732% annual interest and were offered at a price of $999.79 per $1,000 principal amount.

Proceeds will be used to repay debt and general trust purposes and is subject to Series M Notes receiving a rating of at least BBB (low) with a positive trend from Morningstar DBRS.

The offering is expected to close on or about October 11.