Morguard Announces $250 Million Offering of 5.00% Series I Senior Unsecured Debentures

Executive Summary

• Morguard Corporation announced a $250 million private placement of 5.00% Series I senior unsecured debentures, maturing on October 14 2028.
• The debentures are being underwritten by RBC Capital Markets and TD Securities; DBRS Morningstar assigned a provisional “BB (high)” rating with a Positive trend.
• Net proceeds will be used to repay indebtedness under operating lines of credit and for general corporate purposes.

Key Details

• Offering Size: $250 million aggregate principal amount.
• Interest Rate: 5.00% per annum.
• Maturity Date: October 14, 2028.
• Closing Date: Anticipated closing on October 14, 2025.
• Underwriters / Bookrunners: RBC Capital Markets and TD Securities (joint bookrunners and co‑lead agents).
• Rating: Provisional “BB (high)” with a Positive trend from DBRS Morningstar.
• Use of Proceeds: Repayment of indebtedness under Morguard’s operating lines of credit; general corporate purposes.
• Placement Structure: Private placement in each Canadian province, issued pursuant to Morguard’s trust indenture dated December 10, 2013 (as supplemented).
• Ranking: Debentures rank pari passu with existing senior unsecured debentures.
• Regulatory Note: Not registered under the U.S. Securities Act; cannot be offered or sold in the United States absent registration or exemption.

Notable Quotes

(No executive quotes were provided in the release.)