06:40:11 EDT Thu 03 Jul 2025
Enter Symbol
or Name
USA
CA



Chartwell Retirement Residences Real Estate Investment Trust
Symbol CSH
Shares Issued 274,628,250
Close 2025-03-03 C$ 17.26
Market Cap C$ 4,740,083,595
Recent Sedar Documents

Chartwell arranges $400-million debenture offering

2025-03-04 04:39 ET - News Release

Mr. Vlad Volodarski reports

CHARTWELL ANNOUNCES $400 MILLION OFFERING OF SENIOR UNSECURED DEBENTURES

Chartwell Retirement Residences Real Estate Investment Trust has agreed to issue $400-million aggregate principal amount of senior unsecured debentures. The offering includes: (i) $200-million aggregate principal amount of Series E senior unsecured debentures, that will bear interest at a rate of 3.650 per cent per annum and will mature on May 6, 2028; and (ii) $200-million aggregate principal amount of Series F senior unsecured debentures, that will bear interest at a rate of 4.500 per cent per annum and will mature on March 6, 2032. The debentures will be unconditionally guaranteed by Chartwell Master Care LP. The debentures are being offered on an agency basis by a syndicate of agents led by TD Securities Inc., BMO Capital Markets and Scotiabank as joint bookrunners. The offering is expected to close on March 6, 2025, subject to satisfaction of customary closing conditions. DBRS Ltd. has assigned provisional ratings of BBB (low) with a stable trend to the debentures. It is a condition to the closing of the offering that DBRS assign final ratings to the debentures of BBB (low) with a stable trend.

Chartwell intends to use the net proceeds from the offering to repay indebtedness, including indebtedness under its credit agreements and term loan, and the rest, if any, to finance future acquisitions.

The offering is being made by way of a private placement to accredited investors in each of the provinces of Canada.

About Chartwell Retirement Residences Real Estate Investment Trust

Chartwell is in the business of serving and caring for Canada's seniors, committed to its vision of making people's lives better and to providing a happier, healthier and more fulfilling life experience for its residents. Chartwell is an unincorporated, open-ended real estate trust which indirectly owns and operates a complete range of seniors housing communities from independent living through to assisted living and long-term care. Chartwell is one of the largest operators in Canada, serving approximately 25,000 residents in four provinces across the country.

We seek Safe Harbor.

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