By Wendy Van Sickle
Columbus, Ohio, Dec. 7 – Dream Industrial REIT announced it priced an additional C$200 million 5.383% senior debentures, series F, due March 22, 2028 (DBRS: BBB). The debentures will be issued at 100.451 for a yield to maturity of 5.259%, according to a press release.
The notes are an add-on to the C$200 million of series F debentures issued by the company on March 22, 2023.
The additional series F debentures are being offered by a syndicate of agents led by TD Securities Inc., Scotia Capital Inc., RBC Dominion Securities Inc., BMO Nesbitt Burns Inc. and National Bank Financial Inc. The syndicate includes CIBC World Markets Inc. and Desjardins Securities Inc.
Proceeds will be used to repay existing debt and for general trust purposes.
Dream Industrial is an unincorporated open-ended real estate investment trust based in Toronto.
| Issuer: | Dream Industrial REIT
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| Amount: | C$200 million
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| Issue: | Add-on senior debentures, series F
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| Maturity: | March 22, 2028
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| Agents: | TD Securities Inc., Scotia Capital Inc., RBC Dominion Securities Inc., BMO Nesbitt Burns Inc. and National Bank Financial Inc.
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| Co-managers: | CIBC World Markets Inc. and Desjardins Securities Inc.
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| Coupon: | 5.383%
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| Price: | 100.451
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| Yield: | 5.259%
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| Pricing date: | Dec. 7
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| Settlement date: | Jan. 4
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| Expected rating: | DBRS: BBB
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| Distribution: | Canada
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| Prior issue: | C$200 million on March 22, 2023
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