MI Developments announces 10-year senior unsecured debenture offering

By Paul A. Harris

St. Louis, Dec. 9 - MI Developments plans to sell an unspecified amount of 10-year senior unsecured debentures, the company announced in a news release Thursday.

Proceeds will be used to fund the company's obligations under the project financing for the Gulfstream and The Meadows race tracks and for general corporate purposes. CIBC World Markets Inc. is acting as the independent financial adviser.

MI Developments is an Aurora, Ont.-based real estate operating company engaged in the ownership, development, management, leasing and acquisition of industrial and commercial real estate properties located in North America and Europe.

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