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MISSISSAUGA, ON, Oct. 21, 2024 /CNW/ - Chartwell Retirement Residences ("Chartwell") (TSX: CSH.UN) announced today that it has agreed to issue $150 million aggregate principal amount of Series D senior unsecured debentures (the "Debentures"). The Debentures will bear interest at a rate of 4.400% per annum and will mature on November 5, 2029. The Debentures will be unconditionally guaranteed by Chartwell Master Care LP. The Debentures are being offered on an agency basis by a syndicate of agents led by TD Securities Inc., BMO Capital Markets and CIBC Capital Markets as joint bookrunners. The offering is expected to close on October 28, 2024, subject to satisfaction of customary closing conditions. DBRS Limited has assigned a provisional rating of "BBB (low)" with a "Stable" trend to the Debentures. It is a condition to the closing of the offering that DBRS Limited assigns a final rating to the Debentures of "BBB (low)" with a "Stable" trend.
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