SmartCentres Real Estate Investment Trust Announces New Issue of $300 Million Series AE and Re-opening of $150 Million Series AC Senior Unsecured Debentures

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Postmedia has not reviewed the content. by Business Wire SmartCentres Real Estate Investment Trust Announces New Issue of $300 Million Series AE and Re-opening of $150 Million Series AC Senior Unsecured DebenturesAuthor of the article:NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICESTHIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountTORONTO — SmartCentres Real Estate Investment Trust (“SmartCentres” or the “Trust”) (TSX:SRU.UN) announced today that it has priced an offering of $300 million aggregate principal amount of 4.795% Series AE senior unsecured debentures and an additional $150 million aggregate principal amount of its existing Series AC senior unsecured debentures (the “Additional Series AC Debentures”) on an agency basis. The Series AE debentures will mature on January 15, 2032 and the Additional Series AC Debentures will mature on June 12, 2029.This advertisement has not loaded yet, but your article continues below.The Additional Series AC Debentures will have the same terms and conditions, and constitute part of the same series, as the $250 million aggregate principal amount of 3.599% Series AC senior unsecured debentures issued by SmartCentres on November 12, 2025 (the “Existing Series AC Debentures”), except for their date of issue and price. The Additional Series AC Debentures will be issued at a price of $985.47 per $1,000 of principal, plus accrued and unpaid interest from and including June 12, 2026. The Additional Series AC Debentures will initially have a different CUSIP number from the Existing Series AC Debentures but on or about February 15, 2027, the Additional Series AC Debentures will form part of a single series with, and have the same CUSIP number as, the Existing Series AC Debentures.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againThe debentures are being offered by a syndicate of agents with Scotiabank, CIBC Capital Markets, Desjardins Securities, RBC Capital Markets and TD Securities as joint bookrunners, and National Bank Financial, Mizuho Securities, Beacon Securities and Casgrain & Company Limited as co-managers. The offering is expected to close on or about October 14, 2026, subject to customary closing conditions. Morningstar DBRS has provided SmartCentres with a provisional credit rating of BBB with a stable trend relating to the debentures.SmartCentres intends to use the net proceeds of the offering for the refinancing of existing debt, the repayment of the Trust’s revolving credit line, the repayment of the Trust’s mortgages and for general corporate purposes.This offering is being made by way of a private placement to certain accredited investors in each of the provinces and territories of Canada.This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities in any jurisdiction. The debentures being offered have not been and will not be registered under the U.S. Securities Act of 1933 and state securities laws. Accordingly, the debentures may not be offered or sold to U.S. persons except pursuant to applicable exemptions from registration requirements.SmartCentres is one of Canada’s largest fully integrated REITs, with a best-in-class and growing mixed-use portfolio featuring 201 strategically located properties in communities across the country. SmartCentres has approximately $12.1 billion in assets consisting of income producing value-oriented retail, purpose-built rental, first-class office and self-storage properties. SmartCentres owns 35.5 million square feet of leasable space with 98.1% in place and committed occupancy, on 3,500 acres of owned land across Canada.This advertisement has not loaded yet, but your article continues below.For more information, please visit www.smartcentres.com or contact:Mitchell Goldhar Executive Chairman and CEO (905) 326-6400 ext. 7674 mgoldhar@smartcentres.com Peter Slan Chief Financial Officer (905) 326-6400 ext. 7571 pslan@smartcentres.comCertain statements in this Press Release are “forward-looking statements” that reflect management’s expectations regarding the Trust’s future growth, results of operations, performance and business prospects and opportunities. More specifically, certain statements including, but not limited to, statements related to the anticipated use of proceeds of the offering and the date the offering is expected to close, and statements that contain words such as “could”, “should”, “can”, “anticipate”, “expect”, “believe”, “will”, “may” and similar expressions and statements relating to matters that are not historical facts, constitute “forward-looking statements”. These forward-looking statements are presented for the purpose of assisting the Trust’s Unitholders and financial analysts in understanding the Trust’s operating environment and may not be appropriate for other purposes. Such forward-looking statements reflect management’s current beliefs and are based on information currently available to management.However, such forward-looking statements involve significant risks and uncertainties. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including risks associated with potential acquisitions not being completed or not being completed on the contemplated terms, public health crises, real property ownership and development, debt and equity financing for development, interest and financing costs, construction and development risks, and the ability to obtain commercial and municipal consents for development. These risks and others are more fully discussed under the heading “Risks and Uncertainties” and elsewhere in SmartCentres’ most recent Management’s Discussion and Analysis, as well as under the heading “Risk Factors” in SmartCentres’ most recent annual information form. Although the forward-looking statements contained in this Press Release are based on what management believes to be reasonable assumptions, SmartCentres cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. These forward-looking statements are made as at the date of this Press Release and SmartCentres assumes no obligation to update or revise them to reflect new events or circumstances unless otherwise required by applicable securities legislation.Material factors or assumptions that were applied in drawing a conclusion or making an estimate set out in the forward-looking information may include, but are not limited to: a stable retail environment; a continuing trend toward land use intensification, including residential development in urban markets and continued growth along transportation nodes; access to equity and debt capital markets to fund, at acceptable costs, future capital requirements and to enable our refinancing of debts as they mature; that requisite consents for development will be obtained in the ordinary course, construction and permitting costs consistent with the past year and recent inflation trends.View source version on businesswire.com: Mitchell Goldhar Executive Chairman and CEO (905) 326-6400 ext. 7674 mgoldhar@smartcentres.com This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. 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