06:55 AM EDT, 10/09/2025 (MT Newswires) -- Morguard Corporation ( MRCBF ) overnight Wednesday said it agreed to issue $250 million of series I senior unsecured debentures bearing interest at a rate of 5.00% per annum and maturing Oct. 14, 2028.

The company expects the closing date of the transaction to be October 14. It said DBRS Morningstar assigned a provisional rating of "BB (high)" with a "Positive" trend relating to the debentures.

Proceeds of the offering will be used to repay indebtedness under the company's operating lines of credit and for general corporate needs.

Shares of the company closed up 0.3% to $116.29 Wednesday on the Toronto Stock Exchange.