- StorageVault (SVI) has completed its offering of listed senior unsecured hybrid debentures
- A total of $50 million of debentures were issued at a price of $1,000 per debenture
- The net proceeds of the offering will be used to fund potential future acquisition opportunities and for general corporate purposes
- StorageVault Canada owns and operates 223 storage locations across Canada
- StorageVault Canada Inc. (SVI) opened trading at C$4.90 per share
StorageVault (SVI) has completed its offering of listed senior unsecured hybrid debentures.
The offering was co-led by Scotia Capital Inc. and CIBC World Markets Inc. and included National Bank Financial Inc., TD Securities Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Canaccord Genuity Corp., Cormark Securities Inc. and Stifel Nicolaus Canada Inc.
A total of $50 million of debentures were issued at a price of $1,000.
StorageVault has granted the underwriters an option to purchase up to an additional $7.5 million of debentures, on the same terms and conditions, for a period of 30 days following the closing of the offering.
The debentures bear interest at a rate of 5.50% per annum, payable semi-annually, commencing on September 30, 2021, and will mature on September 30, 2026. The debentures are expected to commence trading on the TSXV under the symbol SVI.DB.B on July 19, 2021.
The net proceeds of the offering will be used to fund potential future acquisition opportunities and for general corporate purposes.
StorageVault Canada owns and operates 223 storage locations in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, and Nova Scotia. StorageVault owns 183 of these locations plus over 4,400 portable storage units representing over 10.2 million rentable square feet on over 600 acres of land.
StorageVault Canada Inc. (SVI) opened trading at C$4.90 per share.