Dream Summit Industrial LP (the “Partnership” or “Dream Summit”) announced today the closing of its previously announced private placement of senior unsecured debentures (the “Offering”) consisting of C$300 million aggregate principal amount of 4.432% Senior Unsecured Debentures, Series J maturing on March 28, 2030 (the “Series J Debentures”).
The Series J Debentures are rated BBB with a Stable Trend by DBRS Limited. The net proceeds from the Offering will be used by the Partnership to repay existing indebtedness, including, indebtedness incurred under the Partnership’s revolving credit facility and term facility, to fund the Partnership’s acquisition pipeline and for general Partnership purposes.
The Series J Debentures have not been and will not be qualified for sale to the public under applicable securities laws in Canada and, accordingly, any offer or sale of the Series J Debentures in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws. The Series J Debentures will not be listed on any stock exchange and there will be no market for such securities. The Series J Debentures have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States and may not be offered or sold to other persons who are not residents of a province of Canada.
About Dream Summit Industrial LP
Dream Summit is a limited partnership formed under the laws of the Province of Ontario focused on high-quality industrial properties located in key markets across Canada with an objective of achieving attractive total returns. For more information, please visit https://investors.dream.ca/summit-overview/.
Source : Dream Summit Industrial LP
