Allied Completes $400 Million Offering of Senior Unsecured Debentures

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TORONTO, April 07, 2025 (GLOBE NEWSWIRE) -- Allied Properties Real Estate Investment Trust ("Allied") (TSX:AP) announced today that it has completed its previously announced offering, on a private placement basis in certain provinces of Canada (the "Offering"), of $400 million aggregate principal amount of senior unsecured debentures in two series. The Offering included (i) $150 million aggregate principal amount of series L senior unsecured debentures bearing interest at Daily Compounded CORRA plus 1.80% per annum, payable quarterly in arrears, and maturing on April 7, 2027 (the "Series L Debentures"), and (ii) $250 million aggregate principal amount of series M senior unsecured debentures bearing interest at a rate of 4.312% per annum, maturing on April 7, 2027 (the "Series M Debentures" and, together with the Series L Debentures, the "Debentures").

Allied has entered into an interest rate swap agreement in respect of the floating rate Series L Debentures resulting in an effective fixed interest rate of 4.258% per annum for the term of the Series L Debentures.

The Debentures ...