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May 26, 2017
Allied Properties Real Estate Investment Trust Completes $200 Million Offering
Allied Properties Real Estate Investment Trust (“Allied”), a leading owner, manager and developer of urban office environments operating in Canada’s major cities, recently completed its $200 million public offering of 3.636% series C senior unsecured debentures.
On April 21, 2017, Allied completed an offering of $200 million aggregate principal amount of series C senior unsecured debentures (the “Debentures”). The Debentures bear interest at a rate of 3.636% per annum and will mature on April 21, 2025. Allied intends to use the net proceeds from this offering: (a) to repay amounts drawn on Allied’s unsecured revolving operating facility used for general capital funding related to Allied’s capital improvements, acquisitions and intensification projects; and (b) for general working capital purposes.
Aird & Berlis LLP represented Allied Properties Real Estate Investment Trust with a team comprised of Margaret Nelligan, Sherri Altshuler, Anne Miatello, Melanie Cole, Daniel Everall and Liam Tracey-Raymont (corporate and securities), Mike Smith (real estate) and Barbara Worndl (tax).