From Pulse 2.0 · Amit Chowdhry · · 40s
SmartCentres Closes $450M Debt Financing
SmartCentres completes $450 million senior unsecured debenture financing to refinance debt and support real estate growth.
In brief
SmartCentres completes $450 million senior unsecured debenture financing to refinance debt and support real estate growth. SmartCentres Real Estate Investment Trust closed $450 million in senior unsecured debenture financing to refinance existing debt and support real estate development. Originally reported by Pulse…
Financing Details
SmartCentres closed $450 million senior unsecured debenture financing with $150 million Series AC and $300 million Series AE debentures.
Debt Terms
Series AC debentures carry 3.599% interest and mature June 12, 2029, while Series AE debentures carry 4.795% interest and mature January 15, 2032.
Use of Funds
SmartCentres plans to refinance existing debt, repay credit facility amounts, mortgages, and support corporate purposes with net proceeds.
The main idea
SmartCentres Real Estate Investment Trust closed $450 million in senior unsecured debenture financing to refinance existing debt and support real estate development.
