Crombie Real Estate Investment Trust has agreed to issue a $200 million aggregate principal amount of Series K Senior Unsecured Notes maturing September 28, 2029. The Series K Notes will bear interest at a rate of 5.244% per annum.

The Series K Notes are being offered with a syndicate of agents, co-led by TD Securities Inc., Scotia Capital Inc., and BMO Nesbitt Burns Inc., and including CIBC World Markets Inc., National Bank Financial Inc., Desjardins Securities Inc., and RBC Dominion Securities Inc., to sell, on a best effort, private placement basis.

Net proceeds from the Series K Notes offering will be used to repay the $150 million drawn on the unsecured non-revolving bank loan and certain indebtedness outstanding on Crombie's revolving credit facilities and for general trust purposes.