- Alaris Equity Partners (AD.UN) closes $65 million bought deal offering of 6.25 per cent senior unsecured debentures
- The debentures bear a 6.25 per cent interest rate per annum, payable semi-annually
- Net proceeds will be used to partially repay outstanding indebtedness under Alaris’ subsidiary’s senior debt facility
- No public offering of securities is being made in the United States
- Alaris Equity Partners Income Trust (AD.UN) is up 0.33 per cent, trading at C$18.25 at 12:55 pm EST
Alaris Equity Partners Income Trust (AD.UN) has completed its offering of listed senior unsecured debentures.
The syndicate of underwriters was co-led by CIBC Capital Markets, National Bank Financial and RBC Capital Markets and included Desjardins Securities Inc., Scotia Capital Inc., Acumen Capital Finance Partners Limited and Cormark Securities Inc.
A total of $65 million of debentures were issued at a price of $1,000.
The debentures bear interest at a rate of 6.25 per cent per annum, payable semi-annually in arrears on the last day of March and September of each year, commencing on March 31, 2022, and will mature on March 31, 2027.
The debentures will begin trading today on the Toronto Stock Exchange under the symbol “AD.DB.A”.
The trust intends to use the net proceeds to partially repay outstanding indebtedness under Alaris’ subsidiary’s senior debt facility which may be subsequently redrawn and used to fund future investments in new Partner investments or general trust purposes.
The securities offered under the offering have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and the securities offered under the offering may not be offered or sold in the United States except pursuant to an applicable exemption from such registration.
No public offering of securities is being made in the United States. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Alaris, through its subsidiaries, provides alternative financing to private companies in exchange for distributions, dividends and interest with the principal objective of generating stable and predictable cash flows for dividend payments to its unitholders.
Alaris Equity Partners Income Trust (AD.UN) is up 0.33 per cent, trading at C$18.25 at 12:55 pm EST.
