-- Nexus Industrial REIT (NXR-UN.TO) on Tuesday said it completed an offering of $500-million of senior unsecured debentures.
The REIT said that the offering consisted of $300 million of Series A Debentures maturing April 14, 2029 and $200 million of Series B Debentures maturing April 14, 2031.
The Series A Debentures bear interest at a fixed annual rate of 4.236% per year, and the Series B Debentures bear interest at a fixed annual rate of 4.641% per year.
The REIT added that Morningstar DBRS has provided it with a credit rating of BBB (low) with a Stable trend relating to the Debentures.
The REIT plans to use the net proceeds to repay existing indebtedness and for general trust purposes.
The REIT's units were last seen up $0.10 to $7.96 on the Toronto Stock Exchange.
Price: $7.96, Change: $+0.10, Percent Change: +1.27%