05:23 PM EST, 01/30/2025 (MT Newswires) -- Granite Real Estate Investment Trust (GRT-UN.TO), after trade Thursday, said its Granite REIT Holdings Limited Partnership unit is offering C$300 million of series 10 senior unsecured debentures.

These debentures will mature on Dec. 11, 2026. The offering is expected to close on or around Feb. 4, pending certain conditions, the REIT said.

The debentures will be issued in Canada, and Granite LP plans to use the proceeds to repay a C$300-million term loan due in December 2026. Any remaining funds will be used for general corporate purposes, the company added.

Granite REIT units closed up $1.67 to $70.83 on the Toronto Exchange.