Dream Industrial Real Estate Investment Trust Announces Offering of C$200 Million Senior Unsecured Debentures, Series H

Author of the article:You can save this article by registering for free here. Or sign-in if you have an account.Subscribe now to read the latest news in your city and across Canada.Subscribe now to read the latest news in your city and across Canada.Create an account or sign in to continue with your reading experience.Create an account or sign in to continue with your reading experience.TORONTO — Dream Industrial REIT (TSX: DIR.UN) (the “Trust” or “Dream Industrial REIT”) announced today that it has priced a private placement of senior unsecured debentures (the “Offering”) consisting of C$200 million aggregate principal amount of 4.150% Senior Unsecured Debentures, Series H maturing on April 22, 2031 (the “Series H Debentures”). In connection with the Offering, the Trust has entered into forward cross-currency interest rate swap arrangements to swap the proceeds of the Offering to Euros to lower the effective fixed interest rate of the Series H Debentures to 4.003%.The Series H Debentures are being offered on an agency basis by a syndicate of agents led by TD Securities Inc., Scotia Capital Inc., RBC Dominion Securities Inc., CIBC World Markets Inc. and National Bank Financial Inc., and including BMO Nesbitt Burns Inc., Desjardins Securities Inc. and Mizuho Securities Canada Inc. The Series H Debentures are being offered on a private placement basis in each of the provinces of Canada in reliance upon exemptions from the prospectus requirements under applicable securities legislation.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.The Series H Debentures will be issued at a price equal to C$1,000 per C$1,000 principal amount and bear interest at a rate of 4.150% per annum, and will mature on April 22, 2031. Interest is payable on the Series H Debentures on April 22 and October 22 of each year, commencing on October 22, 2026. The Series H Debentures will be direct senior unsecured obligations of the Trust and will rank equally and ratably with all other unsecured and unsubordinated indebtedness of the Trust, except to the extent prescribed by law. The closing of the Offering is expected to take place on April 21, 2026.The Series H Debentures are expected to be rated BBB (high) with a Stable Trend by DBRS, Inc. The Trust intends to use the net proceeds from the Offering to repay existing indebtedness (including indebtedness incurred under the Trust’s revolving credit facility in connection with the repayment of the Trust’s 3.968% Series E Debentures due April 13, 2026 upon maturity) and for general trust purposes.The Series H Debentures have not been and will not be qualified for sale to the public under applicable securities laws in Canada and, accordingly, any offer or sale of the Series H Debentures in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws. The Series H Debentures will not be listed on any stock exchange and there will be no market for such securities. The Series H Debentures have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States and may not be offered or sold to other persons who are not residents of a province of Canada.This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Series H Debentures in any jurisdiction in which such offer, solicitation or sale would be unlawful.Dream Industrial REIT is an owner, manager, and operator of a global portfolio of well-located, diversified industrial properties. As at December 31, 2025, Dream Industrial REIT has an interest in and manages a portfolio which comprises 342 industrial assets (555 buildings) totalling approximately 73.6 million square feet of gross leasable area in key markets across Canada, Europe, and the U.S. Dream Industrial REIT’s objective is to deliver strong total returns to its unitholders through secure distributions as well as growth in net asset value and cash flow per unit underpinned by its high-quality portfolio and an investment grade balance sheet. Dream Industrial REIT is an unincorporated, open-ended real estate investment trust. For more information, please visit our website at www.dreamindustrialreit.ca. https://www.businesswire.com/news/home/20260414131978/en/ContactsDream Industrial REIT Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. 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