- StorageVault (SVI) announces a bought-deal offering of senior unsecured hybrid debentures
- The underwriters, led by Scotiabank and CIBC Capital Markets, have agreed to purchase $50 million of debentures at $1,000 per debenture
- The debentures will bear interest at a rate of 5.50% per annum, payable semi-annually
- StorageVault Canada owns and operates 216 storage locations across the country
- StorageVault Canada Inc. (SVI) opened trading at C$4.81 per share
StorageVault (SVI) announces a bought-deal offering of senior unsecured hybrid debentures.
The underwriters, led by Scotiabank and CIBC Capital Markets as Joint Bookrunners, have agreed to purchase $50 million of listed senior unsecured hybrid debentures at $1,000 per debenture. StorageVault has also granted the underwriters an option to purchase up to an additional $7.5 million in Debentures, exercisable for a period of 30 days following the closing of the offering.
The offering is expected to close on or about July 19, 2021.
Proceeds will be used to fund potential future acquisition opportunities and for general corporate purposes.
The debentures will bear interest at a rate of 5.50% per annum, payable semi-annually in arrears on March 31 and September 30 of each year, with the first interest payment on September 30, 2021.
The debentures will not be redeemable by StorageVault before September 30, 2024.
StorageVault Canada Inc is engaged in the business of owning, operating and leasing storage to individual and commercial customers across Canada. StorageVault Canada owns and operates 216 storage locations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec and Nova Scotia.
StorageVault Canada Inc. (SVI) opened trading at C$4.81 per share.