On March 6, 2025, Chartwell Retirement Residences (Chartwell) closed its previously announced offering of $400 million aggregate principal amount of senior unsecured debentures. The offering included: (i) $200 million aggregate principal amount of 3.650% Series E senior unsecured debentures and (ii) $200 million aggregate principal amount of 4.500% Series F senior unsecured debentures. The offering was completed on an agency basis through a syndicate of investment dealers led by TD Securities, BMO Capital Markets and Scotiabank. Chartwell intends to use the net proceeds from the offering to repay indebtedness, including indebtedness under its credit agreements and term loan, and the remainder, if any, to finance future acquisitions.
Chartwell is an unincorporated, open-ended real estate trust which indirectly owns and operates a complete range of seniors housing communities, from independent living through to assisted living and long-term care. Chartwell is one of the largest operators in Canada, serving approximately 25,000 residents in four provinces across the country.
Osler, Hoskin & Harcourt LLP advised Chartwell with a team consisting of Rosalind Hunter, Wesley Cohen and Kiana Blake.
Key Contact
Partner, Corporate, Toronto
