Morguard to issue $250M in senior unsecured debentures at 5.00%
Oct 9, 11:56 AM
MRC:CAMRCBF
- Morguard Corporation plans to issue $250 million in Series I senior unsecured debentures with a 5.00% interest rate, maturing on October 14, 2028.
- The issuance will close on October 14, 2025, and is being led by RBC Capital Markets and TD Securities.
- Proceeds from the debenture offering will be used to repay existing debt related to operating credit lines and to support other corporate expenses.
Recommendation Rating: Positive Outlook for Morguard Corporation
Morguard Corporation (TSX: MRC: CA) has announced its plan to issue $250 million in Series I senior unsecured debentures. These debentures will carry an interest rate of 5.00% per annum, with a maturity date set for October 14, 2028. The offering is anticipated to close on October 14, 2025.
The issuance will be jointly directed by RBC Capital Markets and TD Securities, serving as the lead bookrunners and co-lead agents. The funds raised will be allocated toward the repayment of existing debt associated with operating credit lines, in addition to other corporate needs.
Source: Press Release