Slate Office completes C$395.7 million, $161.1 million debt refinancing

By Taylor Fox

New York, Oct. 15 – Slate Office REIT completed C$395.7 million and $161.1 million of debt refinancing of its revolver and some term loans, according to a news release.

This completes the refinancing of all 2020 debt maturities and the majority of 2021 debt maturities while maintaining the REIT’s current overall leverage ratio and its low cost of borrowing with an all-in weighted average interest rate of 2.9% on these transactions.

The refinancing also improves the company’s weighted average term to maturity and liquidity.

Slate Office is a Toronto-based real estate investment trust that currently owns 38 strategic and well-located real estate assets mostly located in Canada’s major population centers.

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