TORONTO–(BUSINESS WIRE)–Primaris Real Estate Investment Trust (“Primaris” or “the Trust”) (TSX: PMZ.UN) announced today it has entered into a $200 million term loan, aligning to Primaris’ unsecured debt strategy, enhancing financing flexibility and liquidity.
The $200 million, unsecured, non-revolving, delayed-draw term loan carries an annual rate of BA + 150 basis points, maturing on February 5, 2026. Primaris may fix the interest rate on all or a portion of this term loan. Six Canadian banks participated in the syndicate, led by Desjardins Capital Markets and TD Securities. Proceeds from the loan will repay the mortgages maturing in the fourth quarter of 2022.
“This term loan provides us with funds to refinance most of the remaining 2022 expiring mortgage debt at very attractive terms, and complements our well-laddered debt maturity profile,” said Rags…
