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Morguard gets $175M senior debentures offering

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Sep. 22, 2023 3:17 AM ETMorguard Corporation (MRC:CA), MRCBFBy: Manshi Mamtora, CFA

  • Morguard (TSX:MRC:CAto issue $175M aggregate principal amount of series H senior unsecured debentures.
  • These debentures will bear interest at a rate of 9.5% per annum and will mature on September 26, 2026.
  • The anticipated closing date of the transaction is September 26, 2023.
  • The net proceeds of the offering will be used towards the repayment on maturity of the $175M principal amount of Morguard’s 4.402% Series G senior unsecured debentures due September 28, 2023.

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