T
ORONTO, June 18, 2025--(BUSINESS WIRE)--Dream Industrial REIT (TSX: DIR.UN) has priced a private placement of senior unsecured debentures consisting of C$200 million aggregate principal amount of 4.287% Senior Unsecured Debentures, Series G maturing on July 3, 2030. The Trust will use the net proceeds to repay existing indebtedness and for general trust purposes.
In connection with the offering, Dream Industrial REIT has entered into forward cross-currency interest rate swap arrangements to lower the effective fixed interest rate to 3.726%, effective December 22, 2025. The Series G Debentures are being offered on an agency basis by a syndicate of agents led by TD Securities Inc.
The debentures will be issued at C$1,000 per principal amount and bear interest at 4.287% per annum, maturing on July 3, 2030. Interest is payable annually on January 3 and July 3, commencing in 2026. The closing of the offering is expected to take place on July 3, 2025.
The Series G Debentures are expected to be rated BBB with a Positive Trend by DBRS Limited. "This bond offering will enhance the strength of our balance sheet," said Lenis Quan, Chief Financial Officer of Dream Industrial REIT. "We have effectively addressed over 70% of our 2025 debt maturities at rates in line or better than expected."
