Allied Properties REIT’s $600 Million Green Bond Offering

Aird & Berlis LLP represented Allied on the offering.

Allied Properties Real Estate Investment Trust completed a $600 million debt offering of 1.726% series H senior unsecured debentures. The Series H Debentures are Allied’s inaugural Green Bond issuance under its recently announced Green Financing Framework.

On February 12, 2021, Allied completed an offering of $600 million aggregate principal amount of Series H Debentures pursuant to a prospectus supplement dated February 5, 2021 to a short form base shelf prospectus dated November 19, 2019. The Series H Debentures were offered on an agency basis by a syndicate of agents led by Scotia Capital Inc., BMO Nesbitt Burns Inc. and CIBC World Markets Inc. Allied used a portion of the net proceeds of the offering to redeem its $150,000,000 aggregate principal amount of 3.934% series B senior unsecured debentures due November 14, 2022 in full on February 16, 2021. 

Allied is a leading owner, manager and developer of distinctive urban workspace in Canada’s major cities and network-dense urban data centres in Toronto.

Aird & Berlis LLP represented Allied with a team comprising Margaret Nelligan (Picture), Sherri Altshuler, Melanie Cole, Liam Tracey-Raymont, Amy Marcen-Gaudaur, Russell Sanders, Meredith McCann and David Mba (corporate and securities), Mike Smith and Neill Kalvin (real estate), and Barbara Worndl (tax).

 

Involved fees earner: Sherri Altshuler – Aird & Berlis LLP; Melanie Cole – Aird & Berlis LLP; Neill Kalvin – Aird & Berlis LLP; Amy Marcen-Gaudaur – Aird & Berlis LLP; David Mba – Aird & Berlis LLP; Meredith McCann – Aird & Berlis LLP; Margaret Nelligan – Aird & Berlis LLP; Russell Sanders – Aird & Berlis LLP; Michael Smith – Aird & Berlis LLP; Liam Tracey-Raymont – Aird & Berlis LLP; Barbara Worndl – Aird & Berlis LLP;

Law Firms: Aird & Berlis LLP;

Clients: Allied Properties Real Estate Investment Trust;

Author: Martina Bellini