Crombie REIT calls C$125 million 2.775% notes due 2020

By Wendy Van Sickle

Columbus, Ohio, Aug. 12 – Crombie Real Estate Investment Trust plans to redeem in full its C$125 million of 2.775% series C senior notes due Feb. 20, 2020, according to a news release.

Crombie issued a notice to redeem the notes on Aug. 27 at a price per C$1,000 principal amount of C$1,002.59 plus accrued interest, for a total redemption price of C$125,323,750 plus C$161,558 of interest.

The redemption will be funded with proceeds of a new offering of C$200 million of 3.677% notes due 2026.

Crombie REIT is a New Glasgow, N.S.-based real estate investment trust that owns and operates commercial properties in Canada.

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