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Morguard launches C$200M debt offering

Diversified real estate company Morguard Corp. agreed to issue C$200 million of series D senior unsecured debentures.

The debentures will bear interest at 4.085% per annum and will mature May 14, 2021.

The debt is being offered on an agency basis by a syndicate of agents co-led by RBC Capital Markets and TD Securities Inc., with RBC Capital Markets serving as book runner.

The net proceeds will be used to repay debt under operating lines of credit and for general business purposes.