On August 30, 2016, Smart Real Estate Investment Trust (“SmartREIT”) completed a $350 million aggregate principal amount issue of senior unsecured debentures. The issue included (i) $100 million principal amount of Series O senior unsecured debentures that carry an annual coupon rate of 2.987 per cent and will mature on August 28, 2024, and (ii) $250 million principal amount of Series P senior unsecured debentures that carry an annual coupon rate of 3.444 per cent and will mature on August 28, 2026. The issue was offered by a syndicate of dealers that was co-led and book-run by CIBC Capital Markets and BMO Capital Markets.
Osler, Hoskin & Harcourt LLP acted for SmartREIT with a team led by Chris Murray that included Lauren Lefcoe and Michele Qu (corporate) and Timothy Hughes and David Davachi (tax).
McCarthy Tétrault LLP represented the underwriters with a team led by Graham Gow that included Andrew Parker, Matthew Appleby, Omar Soliman and Matthew Griffin (corporate) and Stefanie Morand and Patrick McCay (tax).