Allied Properties plans to pay down revolver via debenture proceeds

By Wendy Van Sickle

Columbus, Ohio, May 12 – Allied Properties Real Estate Investment Trust plans to repay amounts drawn on its unsecured line of credit using proceeds from a new offering of debentures, according to a news release.

The company announced Tuesday that it is offering at least C$200 million series G senior unsecured debentures.

Proceeds from the offering will also be used for general corporate purposes.

Toronto-based Allied Properties is a real estate investment trust that owns, manages and develops office properties in Canada.

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