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Granite REIT Launches C$300 Million Debenture Offering

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Granite REIT Launches C$300 Million Debenture Offering

Granite Real Estate ( ($TSE:GRT.UN) ) has issued an announcement.

On January 30, 2025, Granite Real Estate Investment Trust announced that its subsidiary, Granite REIT Holdings Limited Partnership, has priced a C$300 million offering of Series 10 senior unsecured debentures. The debentures, maturing on December 11, 2026, will bear interest at Daily Compounded CORRA plus 0.77% per annum. The offering, expected to close around February 4, 2025, will help repay an existing C$300 million term facility and support general corporate purposes. The issuance is part of Granite’s strategic financial management, potentially enhancing its market position and providing financial flexibility.

More about Granite Real Estate

Granite Real Estate Investment Trust is a Canadian-based company involved in acquiring, developing, owning, and managing logistics, warehouse, and industrial properties across North America and Europe. The company owns 143 properties, covering approximately 63.3 million square feet of leasable area.

YTD Price Performance: -0.86%

Average Trading Volume: 94,086

Technical Sentiment Consensus Rating: Hold

Current Market Cap: C$4.35B

For a thorough assessment of GRT.UN stock, go to TipRanks’ Stock Analysis page.

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