Morguard Corp. (MRC.TO) announced that it has agreed to issue C$250 million aggregate principal amount of series I senior unsecured debentures. These debentures will bear interest at a rate of 5.00% per annum and will mature on October 14, 2028. The anticipated closing date of the transaction is October 14, 2025.
The debentures are being offered through a syndicate of underwriters with RBC Capital Markets and TD Securities acting as joint bookrunners and co-lead agents.
The company plans to use net proceeds of the offering to repay indebtedness under its operating lines of credit and for general corporate purposes.
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