SmartCentres REIT Issues $300 Million Debenture-February 2024-www.financetom.com

SmartCentres REIT Issues $300 Million Debenture

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SmartCentres REIT Issues $300 Million Debenture

Jan 17, 2025 5:15 AM

07:48 AM EST, 01/17/2025 (MT Newswires) -- SmartCentres Real Estate Investment Trust (SRU-UN.TO) overnight Thursday said it priced a $300 million offering of 4.737% Series AB senior unsecured debentures that mature on Aug. 5, 2031.

Proceeds from the offering, which is expected to close by Feb. 5, will be used to pay down debt, including the repayment of the $160 million Series N senior unsecured debentures due next month, and for general corporate purposes.

Morningstar DBRS gave the debentures with a provisional credit rating of BBB with a stable trend.

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