By Cristal Cody
Tupelo, Miss., May 10 – Morguard Corp. sold C$200 million of 4.085% three-year senior debentures (DBRS: BBB) at par to yield 200 basis points over the interpolated Government of Canada bond curve on Thursday, according to a market source and a company news release.
RBC Dominion Securities Inc. was the bookrunner. TD Securities Inc. was co-lead manager.
Proceeds will be used to repay debt under the company’s operating lines of credit and for general corporate purposes.
Morguard is a real estate investment company based in Mississauga, Ont.
| Issuer: | Morguard Corp.
|
| Amount: | C$200 million
|
| Maturity: | May 14, 2021
|
| Securities: | Series D senior debentures
|
| Bookrunner: | RBC Dominion Securities Inc.
|
| Co-lead manager: | TD Securities Inc.
|
| Coupon: | 4.085%
|
| Price: | Par
|
| Yield: | 4.085%
|
| Spread: | 200 bps over interpolated Government of Canada bond curve
|
| Pricing date: | May 10
|
| Settlement date: | May 14
|
| Rating: | DBRS: BBB
|
| Distribution: | Canada shelf
|
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