QuadReal Property Group has taken advantage of the lower interest rate environment to raised C$350m (€230m) by way of a bond issue, the Canadian company said.
The real estate arm of British Columbia Investment Management Corporation (BCI) said the C$350m senior notes of 1.68% maturing 3 March 2025 were issued by BCI QuadReal Realty.
The senior notes were offered on a private placement basis to investors in Canada.
Tamara Lawson, QuadReal’s CFO, said: “Given our strong credit metrics and attractive portfolio, accessing the market now allows us to capitalise on the lower interest rate environment and positions us to execute on compelling opportunities.”
John Lee, QuadReal’s senior VP, treasury and capital markets, said: “We value the support we have received from a broad base of institutional investors. The companies include those with whom we have long-standing relationships and new relationships too.”
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