Sienna Announces Completion of $250 Million Offering of 3.524% Series F Senior Unsecured Debentures

Executive Summary

• Sienna Senior Living Inc. completed its previously announced private placement of $250 million aggregate principal amount of Series F senior unsecured debentures, issued at par with a 3.524% annual interest rate and maturing on December 18 2028.
• The offering was led by BMO Capital Markets, TD Securities Inc., and CIBC Capital Markets as joint lead agents and bookrunners; the debentures are rated “BBB (Stable)” by Morningstar DBRS.
• Net proceeds will be used to fund the early redemption of $175 million aggregate principal amount of 3.450% Series B senior unsecured debentures due February 27 2026 (redemption scheduled for December 22 2025) and for general corporate purposes.

Key Details

• Offering Size: $250 million aggregate principal amount.
• Security Type: Series F senior unsecured debentures (private placement).
• Interest Rate: 3.524% per annum, issued at par.
• Maturity Date: December 18 2028.
• Lead Agents/Bookrunners: BMO Capital Markets, TD Securities Inc., CIBC Capital Markets (joint lead agents and bookrunners).
• Rating: “BBB (Stable)” by Morningstar DBRS.
• Use of Proceeds:
• Early redemption of $175 million aggregate principal amount of 3.450% Series B senior unsecured debentures, originally due February 27 2026, to be redeemed on December 22 2025.
• General corporate purposes.
• Placement Details: Sold by way of a private placement in each Canadian province; not registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption.

Notable Quotes

(No direct quotes were provided in the release.)