/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
WINNIPEG, MB, April 26,
2022 /CNW/ - Artis Real Estate Investment Trust
("Artis" or the "REIT") (TSX: AX.UN) announced
today that it has agreed to issue $200
million aggregate principal amount of Series E senior
unsecured debentures (the "Debentures"). The Debentures will
bear interest at a rate of 5.60% per annum and will mature on
April 29, 2025. The Debentures are
being offered on a best efforts agency basis by a syndicate of
agents led by BMO Capital Markets, CIBC Capital Markets and
Scotiabank and including Desjardins Securities, National Bank
Financial, RBC Capital Markets and TD Securities. The offering is
expected to close on or about April 29,
2022, subject to satisfaction of customary closing
conditions. DBRS Limited has assigned a provisional rating of "BBB
(low) (stable)" to the Debentures. It is a condition to the
closing of the offering that DBRS Limited assign a final rating to
the Debentures of "BBB (low) (stable)".
Artis intends to use the net proceeds of the offering to repay
existing indebtedness outstanding on its credit facilities and for
general trust purposes.
The offering is being made by way of a private placement in each
of the provinces of Canada.
The Debentures have not been registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold
in the United States absent
registration or an applicable exemption from the registration
requirements. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any
sale of the Debentures in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
Artis is a diversified Canadian real estate investment trust
with a portfolio of industrial, office and retail properties in
Canada and the United States. Artis' vision is to build a
best-in-class asset management and investment platform focused on
growing net asset value per unit and distributions for investors
through value investing in real estate.
Forward-Looking
Information
This news release may contain forward-looking statements (within
the meaning of applicable securities laws) relating to the business
of Artis and the environment in which it operates. Forward-looking
statements are identified by words such as "believe", "anticipate",
"project", "expect", "intend", "plan", "will", "may" "estimate",
"pro-forma" and other similar expressions. These statements are
based on Artis' expectations, estimates, forecasts and projections
and include, without limitation, statements with respect to the
completion of the offering, the intended use of proceeds and the
date of closing of the offering. The forward-looking statements in
this news release are based on certain assumptions, including that
all conditions to completion of the offering will be satisfied or
waived. They are not guarantees of future performance and involve
risks and uncertainties that are difficult to control or predict. A
number of factors could cause actual results to differ materially
from the results discussed in the forward-looking statements,
including, but not limited to, the factors discussed under the
heading "Risk Factors" in Artis' most recent annual information
form available at www.sedar.com. There can be no assurance that
forward-looking statements will prove to be accurate as actual
outcomes and results may differ materially from those expressed in
these forward-looking statements. Readers, therefore, should not
place undue reliance on any such forward-looking statements.
Further, these forward-looking statements are made as of the date
of this news release and, except as expressly required by
applicable law, Artis assumes no obligation to publicly update any
such statement, whether as a result of new information, future
events or otherwise.
SOURCE Norton Rose Fulbright Canada LLP