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Mini Mall Storage Properties Announces $650 Million Senior Unsecured Debenture Offering
Globenewswire· 2026-01-21 01:16
Core Viewpoint - Mini Mall Storage Properties Trust has announced a total offering of $650 million in senior unsecured debentures, consisting of $350 million Series C and $300 million Series D, expected to close on January 30, 2026 [1][2]. Group 1: Offering Details - The Series C Debentures will mature on January 30, 2028, while the Series D Debentures will mature on July 30, 2031 [2]. - The Series C Debentures will have a fixed annual interest rate of 4.161%, and the Series D Debentures will have a fixed annual interest rate of 5.034%, with interest payable semi-annually starting July 30, 2026 [3]. - The Debentures will rank equally with all other unsecured and unsubordinated indebtedness of Mini Mall [3]. Group 2: Use of Proceeds - The net proceeds from the Offering will be utilized to refinance existing indebtedness, fund the acquisition of additional properties, and for general corporate purposes [4]. Group 3: Company Background - Avenue Living Group, the parent company of Mini Mall, manages over $9 billion in assets across 22 states in the U.S. and seven provinces in Canada, with a focus on long-term investments in impactful asset classes [6]. - Mini Mall operates over 12.9 million square feet of self-storage space, contributing to Avenue Living Group's diverse portfolio [6].
Avenue Living Announces $400 Million Senior Unsecured Debenture Offering
Globenewswire· 2026-01-13 04:10
Company Overview - Avenue Living Group is a property owner-operator with over C$9 billion in assets under management across 22 states in the U.S. and seven provinces in Canada [5] - The firm's multi-family division manages more than 23,000 doors throughout North America [5] - Avenue Living's self-storage fund, Mini Mall, owns and operates approximately 12.9 million square feet of self-storage space [5] - The agriculture fund managed by Avenue Living covers 50,000 acres of farmland [5] - The company focuses on long-term investments in asset classes that impact the lives of everyday North Americans [5] Offering Details - Avenue Living announced a pricing of an offering of $400 million aggregate principal amount of Series C senior unsecured debentures [1] - The debentures will bear interest at a fixed annual rate of 4.653% per annum, payable in equal semi-annual installments starting July 15, 2026 [2] - The offering is expected to close on or about January 15, 2026 [2] - The net proceeds from the offering will be used to refinance existing indebtedness and for general corporate purposes [3] - The debentures are being offered on a private placement basis in Canada, led by RBC Capital Markets along with BMO Capital Markets, CIBC Capital Markets, and TD Securities [3]
Sienna Announces Offering of $250 Million of 3.524% Series F Senior Unsecured Debentures and Redemption of C$175 Million of Series B Senior Unsecured Debentures
Globenewswire· 2025-12-11 23:36
Core Points - Sienna Senior Living Inc. announced the issuance of $250 million in series F senior unsecured debentures with a 3.524% interest rate, maturing on December 18, 2028 [2] - The net proceeds from the offering will be used to redeem $175 million of existing Series B Senior Unsecured Debentures and for general corporate purposes [3] - The Series B Debentures will be redeemed on December 22, 2025, at a redemption price of approximately $1,000.39498 plus accrued interest [5] Company Overview - Sienna Senior Living Inc. provides a variety of senior living options, including independent living, assisted living, memory care, long-term care, and specialized programs [6] - The company employs approximately 15,000 individuals dedicated to enhancing the quality of life for seniors [6]
StorageVault Announces $50 Million Bought Deal Offering of 5.60% Senior Unsecured Hybrid Debentures
Globenewswire· 2025-11-12 15:48
Core Viewpoint - StorageVault Canada Inc. has announced an agreement to issue $50 million in senior unsecured hybrid debentures, with an option for an additional $7.5 million, to fund debt repayment, potential acquisitions, and general corporate purposes [1][2]. Group 1: Offering Details - The offering consists of listed senior unsecured hybrid debentures due December 31, 2030, priced at $1,000 each [1]. - The expected closing date for the offering is around November 28, 2025 [1]. - The debentures will bear an interest rate of 5.60% per annum, payable semi-annually, with the first payment scheduled for June 30, 2026 [4]. Group 2: Use of Proceeds - Net proceeds from the offering will be used to pay down bank debt, which may be re-drawn for the redemption of existing debentures, fund future acquisitions, and for general corporate purposes [2]. Group 3: Debt Structure - The debentures will rank subordinate to all existing and future senior secured indebtedness and will be structurally subordinated to obligations of StorageVault's subsidiaries [3]. - The debentures will not be redeemable before December 31, 2028, and can be redeemed at a premium or at par depending on the timing of the redemption [5]. Group 4: Regulatory and Compliance - The offering is subject to customary regulatory approvals, including those from the Toronto Stock Exchange [6]. - A preliminary short form prospectus will be filed with securities regulatory authorities in Canada [6]. Group 5: Company Overview - StorageVault operates 265 storage locations across Canada, owning 232 of these locations and over 5,000 portable storage units, totaling over 13.2 million rentable square feet [8].
AGI Announces Increase to Previously Announced Offering of Senior Subordinated Unsecured Debentures to $85 Million
Globenewswire· 2025-05-22 18:18
Core Viewpoint - Ag Growth International Inc. (AGI) has announced a revised agreement to increase the size of its offering of senior subordinated unsecured debentures to $85 million due to strong demand [1][2]. Group 1: Offering Details - The offering will consist of $85 million aggregate principal amount of debentures priced at $1,000 each, with an over-allotment option allowing for an additional $12.75 million, potentially bringing total gross proceeds to $97.75 million if fully exercised [1][2]. - The closing of the offering is expected around June 9, 2025, subject to regulatory approvals [4]. - The debentures will bear an interest rate of 7.50% per annum, payable semi-annually, with a maturity date of June 30, 2030 [5]. Group 2: Use of Proceeds - The net proceeds from the offering are intended to repay existing indebtedness under the company's senior operating credit lines, which will then be available for general corporate purposes [3]. Group 3: Redemption and Payment Options - The debentures are not redeemable before June 30, 2028, except in the event of a change of control [6]. - Upon redemption or maturity, the company may choose to satisfy its obligation by issuing common shares instead of cash [7]. - The debentures will not be convertible into common shares at the option of the holders [8]. Group 4: Company Profile - AGI is a provider of equipment and solutions for the efficient storage, transport, and processing of food globally, with manufacturing facilities in multiple countries including Canada, the U.S., Brazil, India, France, and Italy [9].
Fiera Capital Corporation announces $60 million bought deal offering of 7.75% Senior Subordinated Unsecured Debentures
Globenewswire· 2025-05-14 13:30
Core Viewpoint - Fiera Capital Corporation has announced an agreement to issue $60 million in senior subordinated unsecured debentures, with an option for an additional $9 million, to fund the redemption of existing debentures and for general corporate purposes [1][5]. Group 1: Offering Details - The debentures will have a principal amount of $1,000 each and will bear an interest rate of 7.75% per annum, payable semi-annually [2][5]. - The offering is expected to close around June 3, 2025, and the first interest payment will be made on December 31, 2025 [1][2]. Group 2: Redemption Terms - The debentures are not redeemable before June 30, 2028, except in the event of a change of control [3]. - After the first call date, the debentures can be redeemed at a price of 103.875% of the principal amount plus accrued interest until June 30, 2029, after which they can be redeemed at par plus accrued interest [3]. Group 3: Use of Proceeds - The net proceeds from the offering will be used to redeem the Company's existing 8.25% senior subordinated unsecured debentures due December 31, 2026, and for general corporate purposes [5]. Group 4: Legal and Regulatory - A preliminary short form prospectus will be filed with securities regulatory authorities in Canada, and the offering is subject to customary regulatory approvals [7]. - The securities will not be registered under the U.S. Securities Act and cannot be offered or sold in the U.S. without registration or an exemption [8]. Group 5: Company Overview - Fiera Capital is an independent asset management firm with a global presence, providing customized solutions across various asset classes to institutional and private wealth clients [12]. - The company is headquartered in Montreal and has offices in major cities worldwide, including New York, London, Hong Kong, and Abu Dhabi [13].