By Wendy Van Sickle
Columbus, Ohio, May 10 – Cominar Real Estate Investment Trust priced C$200 million of 4˝% five-year series 11 senior debentures at par on Friday, according to a press release.
BMO Capital Markets and National Bank Financial Markets are the co-lead agents.
Proceeds from the offering will be used to pay down debt outstanding under the company’s revolving credit facility and to repay its C$300 million of series 7 debentures due June 21.
Quebec City-based Cominar REIT owns office, retail and industrial properties in Canada.
| Issuer: | Cominar Real Estate Investment Trust
|
| Amount: | C$200 million
|
| Maturity: | May 15, 2024
|
| Securities: | Senior debentures
|
| Bookrunners: | BMO Capital Markets and National Bank Financial Markets
|
| Co-managers: | RBC Dominion Securities, CIBC World Markets, TD Securities, Desjardins Securities and Scotia Capital
|
| Coupon: | 4˝%
|
| Price: | Par
|
| Yield: | 4˝%
|
| Pricing date: | May 10
|
| Settlement date: | May 15
|
| Distribution: | Canada
|
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