Allied Announces Pricing and Upsizing of Offering of Series D Senior Unsecured Debentures

Aug 06, 2019

TORONTO, Aug. 06, 2019 (GLOBE NEWSWIRE) -- Allied Properties Real Estate Investment Trust (TSX:AP.UN, Financial) (“Allied”) announced today that it has priced and upsized its previously announced offering, and has agreed to issue $300 million aggregate principal amount of series D senior unsecured debentures (the “Debentures”). The Debentures will bear interest at a rate of 3.394% per annum and will mature on August 15, 2029. The Debentures are being offered on an agency basis by a syndicate of agents led by Scotia Capital Inc., BMO Nesbitt Burns Inc. and CIBC World Markets Inc. The offering is expected to close on or about August 15, 2019. DBRS Limited has provided Allied with a provisional credit rating of “BBB” (low) with a “Positive” trend relating to the Debentures. Moody’s Investors Service, Inc. has provided Allied with a provisional credit rating of “Baa3” relating to the Debentures.

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