06:30 AM EDT, 07/19/2024 (MT Newswires) -- SmartCentres Real Estate Investment Trust (SRU-UN.TO) late on Thursday said it priced an offering of $350 million of 5.162% Series AA senior unsecured debentures on an agency basis.

The debentures will mature on Aug. 1, 2030. The offering is expected to close on Aug. 1.

Proceeds from the offering will be used to refinance debt, including its $100 million Series O senior unsecured debentures due Aug. 28, and for general corporate purposes.

The debentures are being offered by a syndicate of agents with Scotiabank, CIBC Capital Markets, Desjardins Securities, RBC Capital Markets and TD Securities as joint bookrunners, and National Bank Financial, Mizuho Securities, BMO Capital Markets and Casgrain as co-managers.