Granite Real Estate (TSE:GRT.UN) has released an update.
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Granite Real Estate Investment Trust has successfully completed a C$800 million offering of senior unsecured debentures and utilized the proceeds to repay its US$400 million term loan ahead of its 2025 maturity date. The offering consisted of two series of debentures, with a portion effectively swapped for Euro-denominated payments at a fixed interest rate. Remaining funds from the offering are slated for refinancing existing debt and general corporate purposes, in line with Granite’s liquidity management policies.
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