On May 29, 2023, Smart Centers Real Estate Investment Trust completed its previously announced private placement of $300 million aggregate principal amount of 5.354 percent Series Z senior unsecured debentures which will mature by May 29, 2028.

The debentures were offered on an agency basis by a syndicate of agents co-led by Scotia Capital and CIBC Capital Markets as joint active bookrunners, with Desjardins Securities, RBC Capital Markets and TD Securities as joint bookrunners, and BMO Capital Markets, National Bank Financial, Mizuho Securities, HSBC Securities (Canada), Canaccord Genuity, Casgrain and iA Private Wealth as co-managers.

Osler, Hoskin & Harcourt LLP advised SmartCentres Real Estate Investment Trust with a team consisting of Chris Murray, James Brown and Tina Mirzaei (Corporate).

McCarthy Tétrault advised the syndicate of agents with a team led by Andrew Parker that included Wendi Locke, Rebecca, Scott, Lama Kahiel, Samantha Pettinato (Business) and Patrick McCay and Dean Xiao (Tax).