C
hoice Properties Real Estate Investment Trust (TSX: CHP.UN) has completed a $300 million private placement issuance of series V senior unsecured debentures, bearing interest at 4.293% per annum and maturing on January 16, 2030. The net proceeds will be used to repay amounts drawn on its revolving credit facility and for general business purposes.

    The debentures have been rated "BBB" (high) with a stable trend by Morningstar DBRS and "BBB+" by S&P Global Ratings. They rank equally with all other unsecured indebtedness of the Trust that has not been subordinated.

    RBC Capital Markets, Scotiabank, TD Securities, BMO Capital Markets, and CIBC Capital Markets co-led the syndicate of agents in selling the debentures on an agency basis. The debentures have not been registered under the U.S. Securities Act of 1933 and may only be offered or sold in the United States absent registration or an applicable exemption.

    Choice Properties is a leading Real Estate Investment Trust that creates value through places where people thrive. It owns, operates, and develops high-quality commercial and residential real estate while integrating environmental, social, and economic sustainability practices into its business.

    The Trust intends to use the proceeds of the Offering for general business purposes, including repaying amounts drawn on its revolving credit facility. This press release contains forward-looking information that reflects Choice Properties' current expectations regarding future events. However, actual results may differ materially from those disclosed due to various risks and uncertainties, as discussed in the Trust's 2024 Third Quarter Report and current Annual Information Form.