Dream Industrial Real Estate Investment Trust Announces Offering of C$200 Million Senior Unsecured Debentures, Series G
This press release constitutes a “designated news release” for the purposes of Dream Industrial REIT’s prospectus supplement dated
NOT FOR DISTRIBUTION IN
The Series G Debentures are being offered on an agency basis by a syndicate of agents led by
The Series G Debentures will be issued at a price equal to
The Series G Debentures are expected to be rated BBB with a Positive Trend by
“Consistent with our strategy to enhance the strength of the balance sheet, following this bond offering, we would have effectively addressed over 70% of our 2025 debt maturities at rates in line or better than our expectations at the beginning of the year,” said
The Series G Debentures have not been and will not be qualified for sale to the public under applicable securities laws in
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 G Debentures in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About
Dream Industrial REIT is an owner, manager, and operator of a global portfolio of well-located, diversified industrial properties. As at
Forward-Looking Information
This press release may contain forward-looking information within the meaning of applicable securities legislation. Forward-looking information generally can be identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “should”, “plans”, or “continue”, or similar expressions suggesting future outcomes or events. Some of the specific forward-looking information in this press release may include, among other things, statements regarding the intended use of proceeds of the Offering, debt maturities, the Trust’s strategy, the expected rating of the Series G Debentures, the terms of the forward cross-currency interest rate swap arrangements and the impact thereof, the anticipated closing date of the Offering and the terms of the Series G Debentures. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Trust’s control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, the risk of adverse global market, economic and political conditions; risks inherent in the real estate industry; competition in the industrial real estate market; the Trust’s inability to execute its growth strategy; risks relating to geographic concentration; risks associated with single tenant properties; the Trust may incur significant capital expenditures; risks relating to development costs; financing risks; changes in interest rates; economic environment risks; the European real estate market; changes in currency exchange rates; changes in government regulations; tax risks; environmental contamination risk; climate change risk; risks relating to sourcing suitable acquisitions; risks relating to undisclosed defects and obligations in connection with property acquisitions; development risk; joint venture risk; loss of key personnel; uninsured or underinsured losses; information technology systems risk; cyber security risks; health crises; risks related to the imposition of duties, tariffs and other trade restrictions and their impacts; controls and procedures risk; market risk; risks relating to redemption of units; risks related to cash distribution fluctuations; risks relating to unitholder dilution; regulatory approvals may be required on a redemption of units or termination of the Trust; risks relating to legal rights of unitholders; liability risks of unitholders; risks relating to the subordinated rights of unitholders; limitations on non-resident ownership; currency risks associated with distributions for non-Canadian unitholders; the Trust depends on the business of
The Trust’s objectives and forward-looking statements are based on certain assumptions, including that the general economy remains stable, interest rates remain stable, conditions within the real estate market remain consistent, rising replacement costs in the Trust’s operating markets remain steady, competition for acquisitions remains consistent with the current climate, that future market and economic conditions will occur as expected and that geopolitical events, including disputes between nations or the imposition of duties, tariffs, quotas, embargoes or other trade restrictions (including any retaliation to such measures), will not disrupt global economies, and that the capital markets continue to provide access to equity and/or debt. All forward-looking information in this press release speaks as of the date of this press release. The Trust does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise except as required by law. Additional information about these assumptions and risks and uncertainties is contained in the Trust’s filings with securities regulators, including its latest annual information form and MD&A. These filings are also available at the Trust’s website at www.dreamindustrialreit.ca .
View source version on businesswire.com: https://www.businesswire.com/news/home/20250618124979/en/
For further information, please contact:
Dream Industrial REIT
President and Chief Executive Officer
(416) 365-4106
asannikov@dream.ca
Chief Financial Officer
(416) 365-2353
lquan@dream.ca
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