SmartREIT completes issue of senior unsecured debentures

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.

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).

Lawyer(s)

Christopher S. Murray Graham P.C. Gow Andrew C. Parker