QuadReal Property Group has taken advantage of the lower interest rate environment to raised C$350m (鈧�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鈥檚 CFO, said: 鈥淕iven 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.鈥�
John Lee, QuadReal鈥檚 senior VP, treasury and capital markets, said: 鈥淲e 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.鈥�
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