We may earn commissions if you use the recommended services on this site.  

Granite REIT Announces C$400 Million Green Bond Offering and Closing of New €70 Million Term Loan

Latest Business News

Granite REIT Announces C$400 Million Green Bond Offering and New €70 Million Term Loan

Granite Real Estate Investment Trust (Granite or the REIT) has made significant announcements regarding its financial activities. The company's wholly owned subsidiary, Granite REIT Holdings Limited Partnership (Granite LP), has priced an offering of C$400 million aggregate principal amount of 6.074% Series 7 senior unsecured debentures due April 12, 2029. The debentures will be guaranteed by Granite and Granite REIT Inc. Additionally, Granite LP has closed a new €70 million term loan. The offering of the debentures is expected to close on October 12, 2023, subject to customary closing conditions. The debentures are being issued as part of Granite's Green Bond Framework. The company has appointed Melody Cooper as a new director and corporate secretary, bringing valuable operational understanding to the board. The debentures are being offered on an agency basis by a syndicate of agents co-led by Scotia Capital Inc. and TD Securities Inc.

Hot Take: The Impact of Granite REIT's Financial Activities on New Businesses

The recent financial announcements by Granite Real Estate Investment Trust (Granite or the REIT) can provide valuable insights for new businesses, particularly those in the real estate and investment sectors.

Significance of Diversified Financing

Granite's decision to offer C$400 million in debentures and secure a new €70 million term loan highlights the importance of diversified financing. This sends a clear message to new businesses: leveraging various financing options can provide the necessary capital for growth and expansion, while also mitigating financial risks.

Green Bond Framework

The issuance of the debentures as part of Granite's Green Bond Framework underscores the growing trend of sustainable financing. This is a crucial lesson for new businesses: aligning financial activities with environmental sustainability can enhance a company's reputation and appeal to socially conscious investors.
Value of Operational Understanding in Leadership
The appointment of Melody Cooper, who has a deep understanding of the company's operations, emphasizes the value of industry knowledge in leadership roles. New businesses should note this: having leaders with a comprehensive understanding of the business can significantly enhance strategic decisions and operations. In conclusion, Granite's financial activities offer a blueprint for new businesses, emphasizing the importance of diversified financing, sustainable practices, and knowledgeable leadership in driving business success.
Story First Published at: https://financialpost.com/pmn/business-wire-news-releases-pmn/granite-reit-announces-c400-million-green-bond-offering-and-closing-of-new-e70-million-term-loan
Brought to you by BusinessFormation.io
Know Your State's Registered Agent Requirements: What is a Registered Agent
Learn How To Create An LLC: What Is An LLC and How To Start an LLC Online
Business Formation Services: View Top 3 Online LLC Filing Companies

LLC Filing & Registered Agent Services

Compare Online LLC Filing Services Today

We work with the market leaders in business formation and registered agent services.

Getting started is simple and inexpensive. Form your business today & secure your brand name before someone beats you to it! Click below to view the Top 3 Best LLC and registered agent service providers.
View Top 3 Providers Now

Filing An LLC Can Be Complicated

Streamline Your LLC Filing Online for $39

Northwest Registered Agent is the best-rated service for first time filers.

Get professional LLC formation & registered agent services for only $39 + state filing fee. This offers includes your full LLC setup, plus a private business address, lifetime support, and more.

Trusted by Millions. Save 82% Today.