News summary · Press release
DREAM INDUSTRIAL REAL ESTATE INVESTMENT TRUST COMPLETES OFFERING OF C$300 MILLION SENIOR UNSECURED DEBENTURES, SERIES I
In an October 21 release carried by Yahoo Finance, Dream Industrial REIT confirmed completion of a C$300 million private placement of senior unsecured debentures. The Series I securities carry a 4.416% coupon and mature on October 22, 2030. The trust also entered currency and interest-rate swaps to convert the financing proceeds into euros.
The issuer said it intended to use net proceeds to repay existing borrowings, including its unsecured revolving credit facility, and for general trust purposes. DBRS assigned the debentures a BBB (high) rating with a Stable trend. The securities will not be listed on a stock exchange.
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