Crombie Real Estate Investment Trust announced that it has entered into an agreement to issue Series L Senior Unsecured Notes maturing March 29, 2030 on best-efforts basis for gross proceeds of CAD 199,990,000 on March 1, 2024. The notes will be issued at par and will bear interest at a rate of 5.139% per annum. The notes will be guaranteed and are redeemable at the option of the company in whole at any time or in part from time to time prior to maturity date.

The notes will mature on March 29, 2030. The Series L Notes were offered at a price of $999.95 per $1,000.00 principal amount. The company expects to close the transaction on or about March 6, 2024 and is subject to customary closing conditions, including receipt of necessary consents and approvals and the Series K Notes receiving a rating of at least BBB(low) with a stable trend from DBRS.