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Crombie REIT launches C$200M private placement

Crombie Real Estate Investment Trust is issuing C$200 million of series F, 3.677% senior unsecured notes due Aug. 26, 2026.

The private placement is expected to close on or about Aug. 26.

At the same time, the Canadian real estate investment trust said it will redeem the outstanding C$125 million of its 2.775% series C senior unsecured notes due Feb. 10, 2020, in full on Aug. 27 after completion of the series F notes offering. The total redemption price of the series C notes will be about C$125.3 million plus accrued and unpaid interest of C$161,558.22.

The syndicate of agents for the series F notes offering is co-led by Scotia Capital Inc., CIBC World Markets Inc. and TD Securities Inc., and includes BMO Nesbitt Burns Inc., Desjardins Securities Inc., National Bank Financial Inc. and RBC Dominion Securities Inc.