Retail-focused Choice Properties Real Estate Investment Trust completed the issuance of C$1.3 billion of senior unsecured debentures in two series, to partly finance its roughly C$16 billion merger with Canadian REIT.
The debentures were issued in a private placement comprising C$550.0 million of 3.556% series K senior unsecured debentures due Sept. 9, 2024, and C$750.0 million of 4.178% series L senior unsecured debentures due March 8, 2028.
TD Securities, RBC Capital Markets, CIBC Capital Markets and BMO Capital Markets co-led the agents carrying out the sale of the debentures.
