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/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
WINNIPEG, MB, April 26, 2022 /CNW/ – Artis Real Estate Investment Trust (“Artis“ or the “REIT“) AX announced today that it has agreed to issue $200 million aggregate principal amount of Series E senior unsecured debentures (the “Debentures“). The Debentures will bear interest at a rate of 5.60% per annum and will mature on April 29, 2025. The Debentures are being offered on a best efforts agency basis by a syndicate of agents led by BMO Capital Markets, CIBC Capital Markets and Scotiabank and including Desjardins Securities, National Bank Financial, RBC Capital Markets and TD Securities. The offering is expected to close on or about April 29, 2022, subject to satisfaction of customary closing conditions. DBRS Limited has assigned a provisional rating of “BBB (low) (stable)” to the Debentures. It is a condition to the closing of the offering that DBRS Limited assign a final rating to the Debentures of “BBB (low) (stable)”.
Artis intends to use the net proceeds of the offering to repay existing indebtedness outstanding on its credit facilities and for general trust purposes.
The offering is being made by way of a private placement in each of the provinces of Canada.
The Debentures have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States 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.
Artis is a diversified Canadian real estate investment trust with a portfolio of industrial, office and retail properties in Canada and the United States. Artis’ vision is to build a best-in-class asset management and investment platform focused on growing net asset…
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