Granite REIT considers debentures offering for potential redemption

By Cristal Cody

Tupelo, Miss., June 12 – Granite Real Estate Investment Trust and Granite REIT Inc. announced on Thursday that subsidiary Granite REIT Holdings LP is considering pricing an offering of debentures in connection with a possible early redemption of debt.

If the REIT (Baa3//DBRS: BBB) brings a deal, proceeds will be used to redeem part of the C$265 million outstanding of 6.05% debentures due December 2016, according to a release.

Granite is a Toronto-based real estate investment trust that owns industrial, warehouse and logistics properties in North America and Europe.

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