SmartCentres REIT closed its C$350 million issuance of series T senior unsecured debentures.

The debentures carry an annual coupon rate of 2.757% until their maturity on June 23, 2021. SmartCentres plans to use the net proceeds to repay existing debt and for general trust purposes.

Scotia Capital was the lead left book runner in the syndicate of agents that offered the issuance. BMO Capital Markets, National Bank Financial, CIBC Capital Markets, RBC Capital Markets and TD Securities served as joint book runners and co-leads for the offering.

Desjardins Securities, Canaccord Genuity, Raymond James, GMP Securities, iA Securities, Casgrain and HSBC Securities (Canada) were the offering's co-managers.