trending Market Intelligence /marketintelligence/en/news-insights/trending/jb9rrg4cidsq7f3v5heueq2 content esgSubNav
In This List

Automotive Properties closes C$55M bought-deal unit offering

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective

Blog

Insights Weekly: Midstream sector gains; loan growth momentum; insurance M&A on the rise


Automotive Properties closes C$55M bought-deal unit offering

Automotive Properties REIT closed its approximately C$55.1 million bought-deal offering of 5.1 million units at C$10.80 per unit.

The automotive dealership property-focused real estate investment trust granted the underwriters a 30-day option to purchase up to an additional 765,000 units at the same price.

The REIT will use the net proceeds from the offering to repay debt incurred to fund its acquisition of two dealership properties from AutoCanada Inc., as well as for general trust purposes.

The syndicate of underwriters for the offering included TD Securities Inc. and Scotiabank, acting as joint book runners, and together with BMO Capital Markets, as co-lead underwriters.