SmartStop Self Storage REIT (SMA) said late Monday its operating partnership, SmartStop OP, closed a CA$500 million ($368.4 million) offering of series A senior unsecured notes due 2028.
The company said the transaction marks its entry into the Canadian Maple Bond market.
Proceeds from the notes, which bear a 3.91% interest rate, will be used to repay its 2027 NBC loan, acquire properties, reduce borrowings under its revolving credit facility, and for general corporate purposes.
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