{"id":16924,"date":"2018-03-08T09:49:00","date_gmt":"2018-03-08T14:49:00","guid":{"rendered":"https:\/\/www.choicereit.ca\/news-release\/choice-properties-real-estate-investment-trust-emet-des-obligations-non-garanties-de-premier-rang-de-serie-k-et-de-serie-l-pour-un-montant-de-13-milliard-de-dollars\/"},"modified":"2018-03-08T09:49:00","modified_gmt":"2018-03-08T14:49:00","slug":"choice-properties-real-estate-investment-trust-emet-des-obligations-non-garanties-de-premier-rang-de-serie-k-et-de-serie-l-pour-un-montant-de-13-milliard-de-dollars","status":"publish","type":"news-release","link":"https:\/\/www.choicereit.ca\/fr\/news-release\/choice-properties-real-estate-investment-trust-emet-des-obligations-non-garanties-de-premier-rang-de-serie-k-et-de-serie-l-pour-un-montant-de-13-milliard-de-dollars\/","title":{"rendered":"Choice Properties Real Estate Investment Trust \u00e9met des obligations non garanties de premier rang de s\u00e9rie K et de s\u00e9rie L pour un montant de 1,3 milliard de dollars"},"content":{"rendered":"<p class=\"prntal\">\/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN <span class=\"xn-location\">THE UNITED STATES<\/span>.\/<\/p>\n<p><span class=\"xn-location\">TORONTO<\/span>, <span class=\"xn-chron\">March 8, 2018<\/span> \/CNW\/ \u2013 Choice Properties Real Estate Investment Trust (\u00ab\u00a0Choice Properties\u00a0\u00bb or the \u00ab\u00a0Trust\u00a0\u00bb) (TSX: CHP.UN) announced today that it has completed its previously announced issuance, on a private placement basis in certain Provinces of <span class=\"xn-location\">Canada<\/span>, of <span class=\"xn-money\">$1.3 billion<\/span> aggregate principal amount of senior unsecured debentures of the Trust in two series (the \u00ab\u00a0Offering\u00a0\u00bb). The Offering included (i) <span class=\"xn-money\">$550 million<\/span> aggregate principal amount of series K senior unsecured debentures bearing interest at a rate of 3.556% per annum and maturing on <span class=\"xn-chron\">September 9, 2024<\/span> and (ii) <span class=\"xn-money\">$750 million<\/span> aggregate principal amount of series L senior unsecured debentures bearing interest at a rate of 4.178% per annum and maturing on <span class=\"xn-chron\">March 8, 2028<\/span> (collectively, the \u00ab\u00a0Debentures\u00a0\u00bb).<\/p>\n<p>The net proceeds of the Offering will be used by the Trust to partially fund the purchase price in respect of the Trust\u2019s previously-announced acquisition of all of the assets of Canadian Real Estate Investment Trust (the \u00ab\u00a0Acquisition\u00a0\u00bb).<\/p>\n<p>The net proceeds of the Offering have been placed in escrow and will be released from escrow upon satisfaction of the applicable release conditions, including the completion of the Acquisition. The Debentures are also subject to a special mandatory redemption in the event that the agreement relating to the Acquisition is terminated or the applicable escrow release conditions are not satisfied by <span class=\"xn-chron\">October 13, 2018<\/span>. The redemption price for any special mandatory redemption will be 100% of the aggregate principal amount of the Debentures, together with accrued and unpaid interest on the Debentures from and including the date of settlement up to but excluding the date of the special mandatory redemption.<\/p>\n<p>DBRS Limited has provided the Debentures with a credit rating of \u00ab\u00a0BBB\u00a0\u00bb with a \u00ab\u00a0Stable\u00a0\u00bb trend and Standard and Poor\u2019s Ratings Services has provided the Debentures with a credit rating of \u00ab\u00a0BBB\u00a0\u00bb. The Debentures rank equally with all other unsecured indebtedness of Choice Properties that has not been subordinated.<\/p>\n<p>The Debentures were sold on an agency basis by a syndicate of agents co-led by TD Securities, RBC Capital Markets, CIBC Capital Markets and BMO Capital Markets. The Debentures offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in <span class=\"xn-location\">the United States<\/span> absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Debentures in any jurisdiction in which such offer, solicitation or sale would be unlawful.<\/p>\n<p><b>About Choice Properties Real Estate Investment Trust<br><\/b>Choice Properties is a public real estate investment trust traded on the Toronto Stock Exchange (TSX) under the trading symbol CHP.UN.<\/p>\n<p><b>Forward-Looking Statements<br><\/b>This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflects Choice Properties\u2019 current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Choice Properties\u2019 control that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the factors discussed in Choice Properties\u2019 2017 Annual Report and current Annual Information Form. Choice Properties does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. All forward-looking statements contained in this press release are made as of the date hereof and are qualified by these cautionary statements.<\/p>\n<p>SOURCE  Choice Properties Real Estate Investment Trust<\/p>\n<p><img decoding=\"async\" alt=\"Rt\" src=\"https:\/\/rt.newswire.ca\/rt.gif?NewsItemId=C1465&amp;Transmission_Id=201803081049CANADANWCANADAPR_C1465&amp;DateId=20180308\" style=\"border:0px; width:1px; height:1px;\"><\/p>\n","protected":false},"template":"","class_list":["post-16924","news-release","type-news-release","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Choice Properties Real Estate Investment Trust \u00e9met des obligations non garanties de premier rang de s\u00e9rie K et de s\u00e9rie L pour un montant de 1,3 milliard de dollars - Propri\u00e9t\u00e9s DeChoix<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.choicereit.ca\/news-release\/choice-properties-real-estate-investment-trust-completes-1-3-billion-issuance-of-series-k-and-series-l-senior-unsecured-debentures\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Choice Properties Real Estate Investment Trust \u00e9met des obligations non garanties de premier rang de s\u00e9rie K et de s\u00e9rie L pour un montant de 1,3 milliard de dollars\" \/>\n<meta property=\"og:description\" content=\"\/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.\/ TORONTO, March 8, 2018 \/CNW\/ \u2013 Choice Properties Real Estate Investment Trust (\u00ab\u00a0Choice Properties\u00a0\u00bb or the \u00ab\u00a0Trust\u00a0\u00bb) (TSX: CHP.UN) announced today that it has completed its previously announced issuance, on a private placement basis in certain Provinces of Canada, of $1.3 [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.choicereit.ca\/news-release\/choice-properties-real-estate-investment-trust-completes-1-3-billion-issuance-of-series-k-and-series-l-senior-unsecured-debentures\/\" \/>\n<meta property=\"og:site_name\" content=\"Propri\u00e9t\u00e9s DeChoix\" \/>\n<meta property=\"og:image\" content=\"https:\/\/rt.newswire.ca\/rt.gif?NewsItemId=C1465&amp;Transmission_Id=201803081049CANADANWCANADAPR_C1465&amp;DateId=20180308\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Dur\u00e9e de lecture estim\u00e9e\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.choicereit.ca\\\/news-release\\\/choice-properties-real-estate-investment-trust-completes-1-3-billion-issuance-of-series-k-and-series-l-senior-unsecured-debentures\\\/\",\"url\":\"https:\\\/\\\/www.choicereit.ca\\\/news-release\\\/choice-properties-real-estate-investment-trust-completes-1-3-billion-issuance-of-series-k-and-series-l-senior-unsecured-debentures\\\/\",\"name\":\"Choice Properties Real Estate Investment Trust \u00e9met des obligations non garanties de premier rang de s\u00e9rie K et de s\u00e9rie L pour un montant de 1,3 milliard de dollars - 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