Teranet to redeem C$200 million 3.646% bonds due 2022 on Feb. 10

By William Gullotti

Buffalo, N.Y., Feb. 23 – Teranet Holdings LP plans to refinance its C$200 million 3.646% series 2015-1 senior secured bonds due Nov. 18, 2022 with proceeds of a new notes deal, according to a press release on Wednesday.

The notes will be redeemed Feb. 10.

The redemption is connected to the closing of Teranet’s C$500 million offering of 3.719% seven-year senior secured notes.

The proceeds from the new note will also be used for general corporate purposes.

The Toronto-based company is a subsidiary of Omers pension fund and owns Teranet Inc., which manages the Province of Ontario’s electronic land registry system.

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