Nexus Industrial REIT (the “REIT”) (TSX: NXR.UN) announced today that it has priced a private placement offering (the “Offering”) of $300 million aggregate principal amount of senior unsecured debentures (the “Debentures”) maturing March 29, 2030.
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it → announce → debentures
The Debentures are being offered on a private placement basis in each of the provinces of Canada by a syndicate of agents led by BMO Capital Markets, Desjardins Capital Markets and RBC Capital Markets as joint bookrunners, and which includes National Bank Capital Markets, Scotia Capital, CIBC Capital Markets, ATB Cormark Capital Markets and TD Securities.
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which → offer → Markets
The Debentures will be issued at a price of $1,000 per $1,000 principal amount and bear interest at a fixed annual rate of 4.563% per annum, payable in equal semi-annual instalments in arrears on March 29 and September 29 in each year, commencing on March 29, 2027 until maturity, unless redeemed at an earlier date.
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Debentures → issue → date
The Debentures will be direct senior unsecured obligations of the REIT and will rank equally and rateably with all other unsecured and unsubordinated indebtedness of the REIT, except to the extent prescribed by law.
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Debentures → rank → law
It is a condition of closing of the Offering that the Debentures be rated at least BBB (low) with a Stable trend by Morningstar DBRS.
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Debentures → rat → DBRS
The REIT intends to use the net proceeds from the Offering to repay existing indebtedness and for general trust purposes.
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REIT → intend → purposes
The closing of the Offering is expected to take place on or about September 29, 2026.
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closing → expect → September
The 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 Debentures in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws.
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which → make → laws
The Debentures have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities law and may not be offered or sold in the United States and, accordingly, may not be offered, sold or delivered, directly or indirectly, in the United States or to, or for the account or benefit of, U.S. Persons (as defined in the U.S. Securities Act) except pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.
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Debentures → register → Act
The Debentures will not be listed on any stock exchange and there will be no market for such securities.
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Debentures → list → securities
This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Debentures in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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offer → constitute → which
About Nexus Industrial REIT
Nexus is a growth-oriented real estate investment trust focused on increasing unitholder value through the acquisition of industrial properties located in primary and secondary markets in Canada, and the ownership and management of its portfolio of properties.
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Nexus → orient → properties
The REIT currently owns a portfolio of 87 properties comprising approximately 12.3 million square feet of gross leasable area.
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REIT → own → area
The REIT has approximately 97,097,000 voting units issued and outstanding, including approximately 74,276,000 REIT Units and approximately 22,821,000 Class B LP Units of subsidiary limited partnerships of Nexus, which are convertible to REIT Units on a one-to-one basis.
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which → have → basis
Certain statements contained in this news release constitute forward-looking statements which reflect the REIT’s current expectations and projections about future results, including statements regarding: the date of closing, the rating of the Debentures by Morningstar DBRS, and the use of proceeds from the Offering.
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which → contain → Offering
Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.
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actions → look → words
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the REIT to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.
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results → look → statements
Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release.
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results → differ → release
Such forward-looking statements are based on a number of assumptions that may prove to be incorrect.
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that → look → assumptions
While the REIT anticipates that subsequent events and developments may cause its views to change, the REIT specifically disclaims any obligation to update these forward-looking statements except as required by applicable law.
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REIT → anticipate → law
These forward-looking statements should not be relied upon as representing the REIT’s views as of any date subsequent to the date of this news release.
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statements → look → release
There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
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results → look → statements
Accordingly, readers should not place undue reliance on forward-looking statements.
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readers → place → statements
Material risk factors and assumptions include those set out in the REIT’s most recent management’s discussion and analysis and annual information form, which are available on SEDAR+, and in the REIT’s other materials filed with the Canadian securities regulatory authorities from time to time.
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which → include → time
Given these risks, undue reliance should not be placed on these forward-looking statements, which apply only as of their dates.
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which → give → dates
The Aporia
