Chartwell Retirement Residences launches $250 million at-the-market offering

Company

Chartwell Retirement Residences

Law Firm / Organization
Osler, Hoskin & Harcourt LLP

Bank

TD Securities Inc.

Law Firm / Organization
Borden Ladner Gervais LLP (BLG)

Bank

Scotia Capital Inc.

Law Firm / Organization
Borden Ladner Gervais LLP (BLG)

On November 14, 2024, Chartwell Retirement Residences announced a CAD 250 million at-the-market equity offering of trust units listed on the Toronto Stock Exchange under "CSH.UN." Units will be sold at prevailing market prices through TD Securities Inc. and Scotia Capital Inc., acting as agents, with a 2.0% commission on gross sales. The offering is set to close by May 30, 2026, or upon reaching the maximum issuance limit.

Proceeds will fund property acquisitions, redevelopment projects, debt repayment, and general purposes. Chartwell is a "connected issuer" to the agents due to existing lending relationships. Legal counsel includes Osler, Hoskin & Harcourt LLP for Chartwell and Borden Ladner Gervais LLP for the agents. The Toronto Stock Exchange has conditionally approved the listing.

Public/Private Offering
Other
$ 250,000,000
Active