20:51:06 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Allied Properties Real Estate Investment Trust
Symbol AP
Shares Issued 122,838,799
Close 2020-02-20 C$ 60.00
Market Cap C$ 7,370,327,940
Recent Sedar Documents

Allied Properties closes $400M debenture offering

2020-02-21 10:51 ET - News Release

Mr. Michael Emory reports

ALLIED ANNOUNCES CLOSING OF $400 MILLION OFFERING OF 3.117% SERIES F SENIOR UNSECURED DEBENTURES

Allied Properties Real Estate Investment Trust has closed its previously announced offering of $400-million aggregate principal amount of Series F senior unsecured debentures. The debentures bear interest at a rate of 3.117 per cent per annum and mature on Feb. 21, 2030. The debentures were offered on an agency basis by a syndicate of agents led by Scotia Capital Inc., CIBC World Markets Inc. and TD Securities Inc. DBRS Ltd. and Moody's Investors Service Inc. provided Allied with credit ratings of BBB with a positive trend and Baa2, respectively, relating to the debentures. The debentures were sold pursuant to a prospectus supplement dated Feb. 6, 2020, to Allied's base-shelf prospectus dated Nov. 19, 2019.

Allied intends to use the net proceeds of the offering (i) to prepay approximately $200-million aggregate principal amount of unsecured term loan; (ii) to repay approximately $110-million drawn on its unsecured line of credit; (iii) to finance its development and value-add initiatives; and (iv) for general corporate purposes.

About Allied Properties Real Estate Investment Trust

Allied is a leading owner, manager and developer of (i) distinctive urban workspace in Canada's major cities and (ii) network-dense urban data centres in Toronto that form Canada's hub for global connectivity.

We seek Safe Harbor.

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