Choice Properties Real Estate Investment (TSE:CHP.UN) has released an update.
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Choice Properties Real Estate Investment Trust has successfully completed a $500 million private placement issuance of Series U senior unsecured debentures, with a 5.030% annual interest rate and a maturity date of February 28, 2031. The proceeds will be used to repay the Trust’s upcoming maturity of $550 million 3.556% Series K senior unsecured debentures. The new debentures have received a ‘BBB’ credit rating from Morningstar DBRS and S&P Global Ratings, indicating a stable outlook.
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