Granite Real Estate (TSE:GRT.UN) has released an update.
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Granite Real Estate Investment Trust has launched a C$800 million offering of senior unsecured debentures, with plans to use the proceeds for refinancing existing debt and general corporate purposes. The offering is divided into two series with different maturity dates and interest rates, and it includes a cross-currency interest rate swap to exchange Canadian dollar payments for Euro payments on one series. The closing of the offering is subject to customary conditions and credit ratings by Morningstar DBRS and Moody’s.
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