Dream Summit Industrial LP has priced a private 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 are being 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 is being conducted across Canada under exemptions from prospectus requirements.

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

The securities are expected to be 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 will not be listed on any exchange and are not being 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