Dream Summit Industrial LP has completed iprivate placement of $250 million in senior unsecured debentures.

The offering consists of 3.959% Series I senior unsecured debentures maturing Thursday, issued at par. Interest will be paid semi-annually on April 10 and October 10, beginning October 10, 2026.

The debentures were offered on an agency basis by a syndicate led by RBC Capital Markets, Scotiabank, TD Securities Inc., CIBC World Markets and National Bank Financial, along with BMO Nesbitt Burns, Desjardins Securities and Mizuho Securities Canada. The private placement was conducted across Canada under exemptions from prospectus requirements.

The debentures will rank equally with all other unsecured and unsubordinated indebtedness of the partnership.

The securities are rated BBB with a Stable Trend by DBRS. Net proceeds will be used to repay existing debt, including amounts drawn on the partnership’s revolving credit facility related to the repayment of its 1.82% Series B debentures that matured April 1, and for general partnership purposes.

The debentures are listed on any exchange and were not offered for sale to the public.

Dream Summit Industrial LP is an Ontario-based limited partnership focused on owning and operating high-quality industrial properties in key markets across Canada, with a goal of generating attractive total returns.

Photo: Dream Summit Industrial