Allies Unveil Planned Green Bond Issue Worth $450 Million
Allied Properties Real Estate Investment Trust (Allied) has announced a new offering of Series N senior unsecured debentures, amounting to $450 million. The debentures will be sold on an agency basis by a syndicate of agents led by RBC Capital Markets and Scotiabank.
The debentures are expected to bear interest at a rate of 4.667% per annum and mature on September 25, 2031. They will be issued under Allied's Green Financing Framework and are expected to be rated "BBB" with a Negative trend by Morningstar DBRS.
Allied's mission is to provide knowledge-based organizations with workspace that is sustainable, conducive to human wellness, creativity, connectivity, and diversity. The company's vision is to make a continuous contribution to cities and culture that elevates and inspires the humanity in all people.
Allied is a leading owner-operator of distinctive urban workspace in Canada's major cities. The proceeds from the offering will be used primarily for the financing and/or refinancing of Eligible Green Projects. Before allocating the proceeds, Allied intends to use the funds for the full repayment of the construction loan on 108 East 5 Avenue, Vancouver.
The Offering is expected to close on September 25, 2025, subject to customary closing conditions. However, it is important to note that the forward-looking statements only speak as of the date of this press release, and Allied has no obligation to update such statements.
The press release includes cautionary statements that qualify all forward-looking statements attributable to Allied and persons acting on its behalf. Allied's actual results and performance could differ materially from those expressed or implied by the forward-looking statements. The forward-looking statements are based on estimates and assumptions that are subject to risks and uncertainties, including those described under "Risks and Uncertainties" in Allied's Annual MD&A.
For further information, contact Cecilia C. Williams, President & CEO, or Nanthini Mahalingam, Senior Vice President & CFO, using the provided contact information.
It is worth noting that the search results do not provide information about who led the acquisition of Series N assets by Allied Properties Real Estate Investment Trust.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the debentures in any jurisdiction in which such offer, solicitation or sale would be unlawful. The debentures have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States without registration or an applicable exemption.
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