By Marisa Wong
Los Angeles, Feb. 6 – Dream Summit Industrial LP priced a private placement of C$250 million of 5.111% senior debentures, series E, maturing on Feb. 12, 2029 (DBRS: BBB), according to a press release.
The series E debentures will be issued at par of $1,000.
The debentures are being offered on an agency basis by a syndicate of agents led by RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., BMO Nesbitt Burns Inc. and National Bank Financial Inc. and including CIBC World Markets Inc., Desjardins Securities Inc. and Mizuho Securities Canada Inc.
The debentures are being offered on a private placement basis in each of the provinces of Canada in reliance upon exemptions from the prospectus requirements under applicable securities legislation.
Closing of the offering is expected to take place on Feb. 12.
The partnership intends to use the net proceeds to repay existing debt and for general partnership purposes.
Dream Summit is a Toronto-based limited partnership focused on high-quality industrial properties.
| Issuer: | Dream Summit Industrial LP
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| Amount: | C$250 million
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| Issue: | Senior debentures, series E
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| Maturity: | Feb. 12, 2029
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| Agents: | RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., BMO Nesbitt Burns Inc. and National Bank Financial Inc. (lead); CIBC World Markets Inc., Desjardins Securities Inc. and Mizuho Securities Canada Inc.
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| Coupon: | 5.111%
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| Price: | Par
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| Yield: | 5.111%
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| Announcement date: | Feb. 6
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| Closing date: | Feb. 12
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| Rating: | DBRS: BBB
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| Distribution: | Canadian private placement
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