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SmartCentres Real Estate Investment Trust Announces $300 Million Series V and $300 Million Series W Senior Unsecured Debenture Issues

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NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES
TORONTO, June 04, 2020 (GLOBE NEWSWIRE) — SmartCentres Real Estate Investment Trust (“SmartCentres”) (TSX:SRU.UN) announced today that it has agreed to issue $300 million aggregate principal amount of Series V senior unsecured debentures and $300 million aggregate principal amount of Series W senior unsecured debentures on an agency basis. The Series V debentures will carry a coupon of 3.192% and will mature on June 11, 2027 and the Series W debentures will carry a coupon of 3.648% and will mature on December 11, 2030. The debentures are being offered by a syndicate of agents with Scotia Capital as the lead left bookrunner, RBC Capital Markets, BMO Capital Markets, CIBC Capital Markets, National Bank Financial, and TD Securities as joint bookrunners and co-leads, and Desjardins Securities, Canaccord Genuity, Raymond James, Casgrain, HSBC Securities (Canada), Industrial Alliance Securities and Stifel Nicolaus Canada as co-managers. The two offerings are expected to close on or about June 11, 2020.  DBRS Limited has provided SmartCentres with a provisional credit rating of BBB (high) with a stable trend relating to the debentures.The net proceeds to SmartCentres from the sale of the Series V debentures and Series W debentures will be used to repay existing indebtedness and for general trust purposes.These offerings are being made by way of a private placement to certain accredited investors in each of the provinces of Canada.This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities in any jurisdiction.  The debentures being offered have not been and will not be registered under the U.S. Securities Act of 1933 and state securities laws. Accordingly, the debentures may not be offered or sold to U.S. persons except pursuant to applicable exemptions from registration requirements.About SmartCentres

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