09:18 AM EDT, 07/03/2025 (MT Newswires) -- Dream Industrial Real Estate Investment Trust (DIR-UN.TO) on Thursday announced the closing of its previously announced private placement of senior unsecured debentures consisting of $200 million aggregate principal amount of 4.287% senior unsecured debentures, Series G maturing on July 3, 2030.

A statement noted that Dream Industrial REIT has entered into forward cross-currency interest rate swap arrangements, in connection with the offering, to swap the proceeds of the offering to Euros to lower the effective fixed interest rate to 3.726%, effective December 22.

The Series G debentures are rated BBB with a Positive Trend by DBRS Limited.

Dream Industrial REIT plans to use the net proceeds from the offering to repay existing indebtedness, including to pre-fund the repayment of indebtedness that will mature in December 2025, and for general trust purposes.

"The Series G Debentures will not be listed on any stock exchange and there will be no market for such securities," said Dream Industrial REIT.