10:15 AM EDT, 10/09/2024 (MT Newswires) -- Primaris Real Estate Investment Trust (PMZ-UN.TO) said Wednesday that it raised $74.7 million in a public treasury and secondary offering of trust units.

The offering consisted of a treasury offering of 2,516,011 units for $39.1 million in proceeds, and a secondary offering by Canada Pension Plan Investment Board comprising 2,287,283 units for $35.6 million in proceeds.

The Trust plans to use the proceeds to repay a portion of its indebtedness incurred under the its unsecured revolving credit facility to partially fund the acquisition of Les Galeries de la Capitale shopping mall in Quebec City, which closed on October 1.

The Trust did not receive any proceeds from the secondary offering.

Primaris was at last look up $0.02 at $15.61.

Price: 15.61, Change: +0.02, Percent Change: +0.13