/NOT FOR DISTRIBUTION TO UNITED
STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
WINNIPEG, MB, April 29,
2022 /CNW/ - Artis Real Estate Investment Trust
("Artis" or the "REIT") (TSX: AX.UN)
announced today that it has closed its previously announced
offering of $200 million aggregate
principal amount of series E senior unsecured debentures (the
"Debentures"). The Debentures bear interest at a rate of
5.60% per annum and mature on April 29,
2025. The Debentures were sold on a private placement basis
in certain provinces of Canada.
The offering was made on an agency basis by a syndicate of agents
led by BMO Capital Markets as joint lead bookrunner, and CIBC
Capital Markets and Scotiabank as additional joint leads.
DBRS Limited has assigned 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 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.
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
intended use of proceeds. The forward-looking statements in this
news release are based on certain assumptions. 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 Artis Real Estate Investment Trust