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Not for Distribution within the United States or Over United States Wire Services
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TORONTO — SmartCentres Real Estate Investment Trust (“SmartCentres” or the “Trust”) (TSX:SRU.UN) introduced in the present day that it has priced an providing of $250 million mixture principal quantity of three.599% Series AC senior unsecured debentures and $250 million mixture principal quantity of 4.318% Series AD senior unsecured debentures on an company foundation. The Series AC debentures will mature on June 12, 2029 and the Series AD debentures will mature on June 12, 2032. The debentures are being provided by a syndicate of brokers with Scotiabank, CIBC Capital Markets, Desjardins Securities, RBC Capital Markets and TD Securities as joint bookrunners, and National Bank Financial, Mizuho Securities, BMO Capital Markets and Beacon as co-managers. The two choices are anticipated to shut on or about November 12, 2025. Morningstar DBRS has supplied SmartCentres with a provisional credit standing of BBB with a secure pattern regarding the debentures.
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SmartCentres intends to make use of the web proceeds of the providing to refinance present debt, together with the reimbursement of its $350 million Series X senior unsecured debentures due December 16, 2025, the reimbursement of its revolving credit score line and sure mortgages and for basic company functions.
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This providing is being made by means of a personal placement to sure accredited traders in every of the provinces and territories of Canada.
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This press launch shall not represent a suggestion to promote, or the solicitation of a suggestion to purchase, any securities in any jurisdiction. The debentures being provided haven’t been and won’t be registered underneath the U.S. Securities Act of 1933 and state securities legal guidelines. Accordingly, the debentures is probably not provided or bought to U.S. individuals besides pursuant to relevant exemptions from registration necessities.
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About SmartCentres
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SmartCentres is certainly one of Canada’s largest totally built-in REITs, with a best-in-class and rising mixed-use portfolio that includes 197 strategically positioned properties in communities throughout the nation. SmartCentres has roughly $12.0 billion in belongings consisting of earnings producing value-oriented retail, purpose-built rental, first-class workplace and self-storage properties. SmartCentres owns 35.6 million sq. ft of leasable house with 98.6% in place and dedicated occupancy, on 3,500 acres of owned land throughout Canada.
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For extra info, please go to www.smartcentres.com.
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Certain statements on this Press Release are “forward-looking statements” that replicate administration’s expectations relating to the Trust’s future development, outcomes of operations, efficiency and enterprise prospects and alternatives. More particularly, sure statements together with, however not restricted to, statements associated to the anticipated use of proceeds of the providing and the date the providing is predicted to shut, and statements that comprise phrases similar to “may”, “ought to”, “can”, “anticipate”, “count on”, “imagine”, “will”, “could” and related expressions and statements regarding issues that aren’t historic details, represent “forward-looking statements”. These forward-looking statements are introduced for the aim of helping the Trust’s Unitholders and monetary analysts in understanding the Trust’s working surroundings and is probably not acceptable for different functions. Such forward-looking statements replicate administration’s present beliefs and are primarily based on info presently out there to administration.
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However, such forward-looking statements contain vital dangers and uncertainties. Various components may trigger precise outcomes to vary materially from the outcomes mentioned within the forward-looking statements, together with dangers related to potential acquisitions not being accomplished or not being accomplished on the contemplated phrases, public well being crises, actual property possession and improvement, debt and fairness financing for improvement, curiosity and financing prices, development and improvement dangers, and the power to acquire industrial and municipal consents for improvement. These dangers and others are extra totally mentioned underneath the heading “Risks and Uncertainties” and elsewhere in SmartCentres’ most up-to-date Management’s Discussion and Analysis, in addition to underneath the heading “Risk Factors” in SmartCentres’ most up-to-date annual info kind. Although the forward-looking statements contained on this Press Release are primarily based on what administration believes to be cheap assumptions, SmartCentres can’t guarantee traders that precise outcomes might be in step with these forward-looking statements. The forward-looking statements contained herein are expressly certified of their entirety by this cautionary assertion. These forward-looking statements are made as on the date of this Press Release and SmartCentres assumes no obligation to replace or revise them to replicate new occasions or circumstances except in any other case required by relevant securities laws.
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Material components or assumptions that had been utilized in drawing a conclusion or making an estimate set out within the forward-looking info could embody, however are usually not restricted to: a secure retail surroundings; a unbroken pattern towards land use intensification, together with residential improvement in city markets and continued development alongside transportation nodes; entry to fairness and debt capital markets to fund, at acceptable prices, future capital necessities and to allow our refinancing of money owed as they mature; that requisite consents for improvement might be obtained within the abnormal course, development and allowing prices in step with the previous 12 months and up to date inflation traits.
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Mitchell Goldhar
Executive Chairman and CEO
(905) 326-6400 ext. 7674
mgoldhar@smartcentres.com Peter Slan
Chief Financial Officer
(905) 326-6400 ext. 7571
pslan@smartcentres.com#distro
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