Dream Industrial Real Estate Investment Trust announced a private placement of 5.383% senior unsecured debentures, Series F maturing on March 22, 2028, for gross proceeds of CAD 200,000,000 on December 7, 2023. The debentures will be issued at a premium price equal to $1,004.51 per $1,000 principal amount. Interest is payable on the Series F Debentures on March 22 and September 22 of each year commencing on March 22, 2024.

The debentures are direct senior unsecured obligations of the company and will rank equally and ratably with all other unsecured and unsubordinated indebtedness of the Trust, except to the extent prescribed by law. The Series F Debentures are expected to be rated BBB with a Stable Trend by DBRS Limited. The Series F Debentures have not been and will not be qualified for sale to the public under applicable securities laws in Canada and, accordingly, any offer or sale of the Series F Debentures in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws.

The Series F Debentures will not be listed on any stock exchange and there will be no market for such securities. The closing of the offering is expected to take place on January 4, 2024. The debentures are issued at premium.