Storagevault completes $50M hybrid debenture offering

Executive Summary

• Storagevault Canada Inc. successfully closed a $50 million bought deal offering of 5.60% Senior Unsecured Hybrid Debentures.
• The company has granted underwriters an over-allotment option to purchase an additional $7.5 million in debentures within 30 days.
• Net proceeds are designated for paying down bank debt, refinancing existing debentures due in January 2026, funding potential acquisitions, and general corporate purposes.

Key Details

• Transaction Structure: Bought deal offering of listed senior unsecured hybrid debentures.
• Aggregate Principal Amount: $50,000,000.
• Price: $1,000 per debenture.
• Interest Rate: 5.60% per annum, payable semi-annually in arrears on June 30 and December 31.
• Maturity Date: December 31, 2030.
• First Interest Payment: June 30, 2026.
• Trading Symbol: SVI.DB.D on the Toronto Stock Exchange.
• Expected Trading Commencement: November 28, 2025.
• Over-Allotment Option: Underwriters have an option to purchase up to an additional $7,500,000 aggregate principal amount of debentures on the same terms, exercisable for 30 days following closing.
• Use of Proceeds:
  • Initially pay down bank debt.
  • Bank debt may be subsequently redrawn to finance the redemption of 5.75% listed debentures due January 31, 2026.
  • Finance potential future acquisitions.
  • General corporate purposes.
• Underwriters: Co-led by CIBC World Markets Inc. and Scotia Capital Inc., including National Bank Financial Inc., TD Securities Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Canaccord Genuity Corp., Cormark Securities Inc., Desjardins Securities Inc., and Raymond James Ltd.
• Regulatory Filing: Short form prospectus dated November 25, 2025, filed in each of the provinces of Canada.

Notable Quotes

• No direct quotes from management were included in the provided text.