Chartwell Retirement Residences announced a private placement of series C senior unsecured debentures for gross proceeds of CAD 250,000,000 on December 5, 2023. The transaction will include participation from accredited investors. The debentures have a fixed interest rate of 6% per annum.

The debentures will mature on December 8, 2026. The debentures will be unconditionally guaranteed by Chartwell Master Care LP. The transaction is expected to close on December 8, 2023.