Dream Industrial REIT

Dream Industrial REIT in its $250 million private placement of senior unsecured debentures

Client

Dream Industrial REIT

Value

$250 million

Service

Capital Markets

Date Closed

Industry

REITs

Lead Office

Toronto

 

On December 15, 2020, Dream Industrial REIT announced its private placement of senior unsecured debentures. The inaugural offering consists of $250 million principal amount of 1.662% Series A Debentures due in December 2025. The offering is made by a syndicate of agents led by TD Securities Inc., Scotia Capital Inc. and RBC Dominion Securities Inc. Dream has entered into a cross currency interest swap arrangement to convert the proceeds from the offering into Euros, which is expected to result in an effective yield of 0.49%. The proceeds from the offering will be used to fund future acquisitions, repay existing debt and for general trust purposes.

Dream Industrial REIT is an unincorporated and open-ended real estate investment trust specialized in geographically diversified industrial properties across North America.

Osler, Hoskin & Harcourt LLP advised Dream Industrial REIT with a team consisting of Michael Innes, Desmond Lee, Jesany Michel, Stella Gore (Corporate), Jack Silverson and Jennifer Horton (Taxation).