CT Real Estate Investment Trust Completes Offering of $150 Million 2.371% Series G Senior Unsecured Debentures due January 6, 2031
January 06, 2021 at 09:08 am
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CT Real Estate Investment Trust announced that it has completed its previously announced issuance, on a private placement basis in certain of the provinces of Canada, of $150 million aggregate principal amount of series G senior unsecured debentures with a ten-year term and a coupon of 2.371% per annum. CT REIT intends to use the net proceeds of the Debenture Offering, together with cash on hand, to complete the previously announced redemption of the entire outstanding $150 million aggregate principal amount of its 2.159% Series C Senior Unsecured Debentures due June 1, 2021.
CT Real Estate Investment Trust is a Canada-based unincorporated, closed-end real estate investment trust (REIT) formed to own income-producing commercial properties located primarily in Canada. The Company's principal objective is to invest primarily in net lease, single tenant assets, is to create unitholder value over the long-term by generating reliable, durable and growing monthly distributions on a tax-efficient basis. To achieve this objective, management is focused on expanding the REIT's asset base while also increasing its adjusted funds from operations (AFFO) per unit. Its portfolio is comprised of over 370 properties totaling approximately 30 million square feet of gross leasable area, consisting primarily of net lease single-tenant retail properties located across Canada. Its property types include development, industrial, mixed use, multi-tenant and single tenant. Its properties are located in various regions, such as Western Canada, Atlantic Canada, Ontario and Quebec.
CT REAL ESTATE INVESTMENT TRUST 
