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SmartCentres REIT wraps up C$450M series U debentures offering

SmartCentres REIT completed its C$450 million private placement of 3.526% series U senior unsecured debentures due Dec. 20, 2029.

The Canadian real estate investment trust said it will use net proceeds to repay debt, to fund a potential C$109 million property acquisition to facilitate mixed-use development and for general trust purposes.