Core Viewpoint - Sienna Senior Living Inc. has announced a $175 million offering of series E senior unsecured debentures to strengthen its financial position and support growth initiatives, coinciding with the completion of a significant acquisition [1][4]. Group 1: Debenture Offering - The company will issue $175 million in series E senior unsecured debentures at an interest rate of 4.112% per annum, maturing on August 21, 2030 [1]. - The offering is being conducted on a best efforts agency basis by a syndicate of agents, with the closing expected around August 21, 2025, subject to customary conditions [1]. - The debentures must be rated at least "BBB" with a "Stable" trend by Morningstar DBRS to close [1]. Group 2: Use of Proceeds - The net proceeds from the debenture offering will be used to repay existing debt, finance acquisitions, fund developments, and for general corporate purposes [2]. Group 3: Recent Acquisition - Sienna has completed the acquisition of Credit River Retirement Residence for $60.2 million, which includes 133 suites located in Streetsville, Ontario [3]. - The acquisition is expected to yield an initial investment return of 5.75% and was completed at a discount to replacement cost [3]. - The company anticipates achieving a stabilized occupancy rate of 95% within the first year and expects the acquisition to be immediately accretive to its AFFO per share [3]. Group 4: Market Context - The CEO highlighted that the debenture offering and acquisition align with the company's growth strategy, particularly in light of Canada's aging population and limited new construction in senior living residences, which is expected to sustain demand [4].