Sienna Announces Offering of $250 Million of 3.524% Series F Senior Unsecured Debentures and Redemption of C$175 Million of Series B Senior Unsecured Debentures

Executive Summary

• Sienna Senior Living Inc. agreed to issue $250 million of series F senior unsecured debentures (3.524% interest, maturing Dec 18 2028) on a best‑efforts basis.
• Net proceeds will be used to redeem the outstanding $175 million of 3.450% Series B senior unsecured debentures due Feb 27 2026 and for general corporate purposes.
• The redemption of the Series B debentures is scheduled for Dec 22 2025, with a record date of Dec 17 2025; holders will receive approximately $1,000.395 per $1,000 principal plus accrued interest.

Key Details

• Series F Debentures:
• Aggregate principal amount: $250 million
• Coupon: 3.524% per annum (issued at par)
• Maturity: December 18 2028
• Rating requirement: Minimum “BBB” with a “Stable” trend by Morningstar DBRS
• Offering structure: Private placement, best‑efforts agency basis; syndicate led by BMO Nesbitt Burns Inc., TD Securities, and CIBC Capital Markets (joint lead agents & bookrunners)

• Expected closing: On or about December 18 2025, subject to customary conditions

• Use of Proceeds:

• Early redemption of all outstanding $175 million Series B senior unsecured debentures (3.450% coupon, due Feb 27 2026) on December 22 2025

• Remainder for general corporate purposes

• Series B Debenture Redemption:

• Outstanding principal: $175 million
• Record date for redemption: December 17 2025

• Redemption price per $1,000 principal: Approximately $1,000.395 plus accrued interest of approximately $11.059 (excluding the redemption date)

• Offering Mechanics:

• Private placement in each Canadian province

• Debentures not registered under U.S. Securities Act; cannot be offered or sold in the United States absent exemption

• Contact for Further Information:

• David Hung – Chief Financial Officer & Executive Vice President, Investments
• Phone: (905) 489‑0258
• Email: [email protected]

Notable Quotes

(No executive quotes were included in the release.)