Allied Properties Real Estate Investment Trust (TSE:AP.UN) has released an update.
Allied Properties Real Estate Investment Trust is set to issue $250 million in series J senior unsecured debentures with a 5.534% interest rate, maturing in 2028, aimed at repaying variable-rate debt. The private placement, co-led by major financial institutions, is anticipated to close on September 26, 2024. The debentures, rated ‘BBB’ with a Negative trend by Morningstar DBRS, will not be registered in the U.S. and are intended for the Canadian market.
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