C
hoice Properties Real Estate Investment Trust ("Choice Properties" or "the Trust") (TSX: CHP.UN) has agreed to issue $300 million in series V senior unsecured debentures on a private placement basis in certain Canadian provinces. The debentures will bear interest at 4.293% per annum and mature on January 16, 2030.

    The debentures will be sold at par through a syndicate of agents led by RBC Capital Markets, Scotiabank, TD Securities, BMO Capital Markets, and CIBC Capital Markets. The offering is expected to close on January 16, 2025, subject to customary conditions. Proceeds from the sale will be used to repay amounts drawn on the Trust's revolving credit facility and for general business purposes.

    The debentures must receive a minimum rating of "BBB" with a stable trend from Morningstar DBRS and at least "BBB+" from Standard & Poor's Ratings Services in order to close. They will rank equally with other unsecured debt of the Trust that has not been subordinated.

    The debentures have not been registered under the U.S. Securities Act of 1933, as amended, and may only be sold in the United States through registration or an applicable exemption from registration requirements.

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

    For more information, visit Choice Properties' website at www.choicereit.ca or its issuer profile on SEDARPlus at www.sedarplus.ca.

    This press release contains forward-looking statements that reflect the Trust's current expectations regarding future events, including the expected closing of the offering and intended use of proceeds. However, actual results may differ due to various risks and uncertainties, as outlined in Choice Properties' 2024 Third Quarter Report and Annual Information Form.