Granite REIT Announces C$300 Million Offering of Senior Unsecured Debentures
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Granite REIT has announced a C$300 million offering of senior unsecured debentures through its subsidiary, Granite REIT Holdings Limited Partnership. The debentures will bear interest at Daily Compounded CORRA plus 0.77% and mature on December 11, 2026.
January 30, 2025 | 10:15 pm
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POSITIVE IMPACT
Granite REIT's C$300 million debenture offering could strengthen its financial position by raising capital, potentially impacting its stock positively.
The issuance of C$300 million in debentures provides Granite REIT with additional capital, which can be used for growth or debt repayment. The favorable interest rate terms suggest confidence in the company's creditworthiness, likely leading to a positive short-term impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90