10:43 AM EST, 02/05/2025 (MT Newswires) -- SmartCentres Real Estate Investment Trust (SRU-UN.TO) said Wednesday it has closed its $300 million debenture offering. The Series AB 4.737% debentures will mature on Aug. 5, 2031.

Proceeds will be used to refinance existing debt, including the repayment of its $160 million Series N senior unsecured debentures due Feb. 6, 2025, the repayment of its revolving credit line and for general corporate purposes.

Morningstar DBRS has provided SmartCentres with a credit rating of BBB with a stable trend relating to the debentures.

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