SmartCentres Real Estate Investment Trust Closes $500 Million Series R and Series S Senior Unsecured Debenture Issue

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following two offers if you want an ad-free experience.

Canadian Insider Club
$299/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
10-day money back guarantee*
JOIN THE CLUB
Canadian Insider Ad-Free
$49/ year*
All benefits of basic registration
No 3rd party display ads
10-day money back guarantee*
GO AD-FREE

* Price is subject to applicable taxes. Money back guarantee: For bona fide Ad-Free or Canadian Insider Club subscribers, if you downgrade to Basic or cancel with-in 10 days of first subscribing, we will refund your payment upon request. Immediately after downgrading or cancelling, using the same email that is associated with your account, request a refund via our Contact Us form at the bottom of the page. We will only consider one refund request per household or organization. We cannot accommodate refund requests where an account holder has not provided verifiable address and billing information.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

SmartCentres Real Estate Investment Trust Closes $500 Million Series R and Series S Senior Unsecured Debenture Issue

TORONTO, ONTARIO--(Marketwired - Dec. 21, 2017) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES

SmartCentres Real Estate Investment Trust ("SmartCentres") (TSX:SRU.UN) announced today that it has closed its previously announced $500 million aggregate principal amount issue of senior unsecured debentures. The issue included (i) $250 million principal amount of Series R floating rate senior unsecured debentures that will mature on December 21, 2020 and (ii) $250 million principal amount of Series S senior unsecured debentures that carry an annual coupon rate of 3.834% and will mature on December 21, 2027. The issue was offered on an agency basis by a syndicate bookrun by BMO Capital Markets, CIBC Capital Markets, National Bank Financial and Scotia Capital with additional Joint-Leads RBC Capital Markets and TD Securities as well as Co-Managers Desjardins Securities, Canaccord Genuity, HSBC Securities (Canada) and Raymond James.

SmartCentres intends to use the net proceeds from the offering to repay existing indebtedness and for general trust purposes.

DBRS Limited has provided SmartCentres with a credit rating of BBB, with a stable trend, relating to the debentures.

The debentures offered have not been registered under the United States Securities Act of 1933, as amended or state securities laws. Absent registration or an applicable exemption from the registration requirements, this press release does not constitute an offer to sell or solicitation of an offer to buy any of the debentures in any jurisdiction in which such offer, solicitation or sale would be unlawful.

This offering is being made by way of a prospectus supplement to SmartCentres' existing $2 billion short form base shelf prospectus filed with Canadian securities regulatory authorities. The terms of the offering are described in the prospectus supplement, which has been filed with Canadian securities regulatory authorities in all jurisdictions of Canada where the Series R senior unsecured debentures and Series S senior unsecured debentures were offered.

About SmartCentres

SmartCentres is one of Canada's largest real estate investment trusts with total assets of approximately $9.3 billion. It owns and manages 34 million square feet in value-oriented, principally Walmart-anchored retail centres, having the strongest national and regional retailers as well as strong neighbourhood merchants. In addition, SmartCentres is a joint-venture partner in the Premium Outlets locations in Toronto and Montreal with Simon Property Group.

SmartCentres is now expanding the breadth of its portfolio to include residential (single-family, condominium and rental), retirement homes, office, and self-storage, either on its large urban properties such as the Vaughan Metropolitan Centre or as an adjunct to its existing shopping centres. SmartCentres' core vision is to provide a value-oriented shopping experience in all forms to Canadian consumers and to create high quality mixed-use developments in urban settings. SmartCentres is a fully integrated real estate provider with expertise in planning, development, leasing, operations and construction - all under one roof. For more information on SmartCentres, visit www.smartcentres.com.

Peter Sweeney
Chief Financial Officer
SmartCentres
(905) 326-6400 ext. 7865
psweeney@smartcentres.com

Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).