TERANET has announced the end of the $ 500 million senior securities offering and the redemption of the 3.646% series. 2015-1 Senior Securities, Canadian Business Journal

Toronto, ON, February 23, 2022 (GLOBE NEWSWIRE) — Teranet Holdings LP (“Teranet”) is a $ 500 million 3.719% series 2022-1 senior secured bond that matures February 23, 2029. Announced the end of provision. Bonds were issued in accordance with the Master Trust Indenture and Supplementary Indentures dated 16 December 2010. Bonds are secured and ranked on par with other Teranet senior obligations.

This offer is from RBC Dominion Securities Inc. And BMON esbitt Burns Inc. co-led by agent syndication, which was agency-based and included Scotia Capital Inc., CIBC World Markets Inc., TD Securities Inc., and National Bank. Financial Inc. Bonds are rated BBB (Stable Trend) by DBRS Morningstar and BBB (Stable Outlook) by S & P Global Ratings.

2022-1 The primary use of revenue from the issuance of senior secured bonds is the refinancing of the $ 200 million 3.646% series 2015-1 senior secured bonds, which will mature on November 18, 2022. Therefore, Teranet has notified the entire early redemption. Principal amount of Series 2015-1 Senior Collateralized Bonds as of February 10, 2022. The redemption price of the bond is calculated according to the applicable guarantee. Excess revenue from issuance is used for general corporate purposes, including distribution to Teranet’s partners.

Kelly Brass, Senior Vice President and Chief Financial Officer of Terranet’s Treasury, said: The success of our offering shows that investors continue to understand and embrace the long-term fundamentals of the real estate market that underpin the volume of Terranet’s major registrations, searches, and warrants. Our strong relationships with investors and strong financial performance have allowed us to refinance on favorable terms for the company and significantly extend our next maturity. “

About Terranet
Terranet is Canada’s leader in the provision and transformation of statutory registry services with extensive expertise in land and commercial registries. It also provides insightful property intelligence and data solutions to thousands of customers in the real estate, financial services, government, utilities and legal markets. Founded in 1991, Teranet operates an electronic registration system in Ontario, a land ownership and property registry in Manitoba, and a collateral management solution that is Canada’s lien registration and search and asset market leader. Recovery service and insolvency management. Most recently, Teranet has expanded its global footprint with the acquisition of Foster Moore. The acquisition extends the registry solution to include off-the-shelf registry software that reduces operational costs, enhances security, and improves processes. Terranet is proud to be recognized as one of Toronto’s Top 100 Employers for the sixth consecutive year (2017-2022). Terranet is owned by OMERS, one of Canada’s largest defined benefit annuities, and is managed by the OMERS infrastructure, which invests globally on behalf of OMERS.

For more information, please contact:
Kerri Brass, Senior Vice President, Treasury and Chief Financial Officer
Tel (416) 570-6723

News: Series 2022-1 Senior Secured Bonds have not been and will not be registered under the US Securities Act of 1933. It may not be offered, sold, or distributed in the United States without the applicable exemption from registration or registration requirements. .. This news release does not constitute an offer to sell or purchase Series 2022-1 Senior Secured Bonds in the United States or other jurisdictions, and such offer or solicitation may be illegal. No securities regulator has approved or disapproved the content of this news release.

Note on forward-looking statements: Some of the statements contained in this press release may constitute forward-looking statements. Forward-looking statements include expected use of earnings, timing of redemption of Series 2015-1 senior secured bonds, and termination of Series 2022-1 senior secured bonds. In many cases, but not always, information about the future outlook is “may”, “do”, “expect”, “believe”, “estimate”, “plan”, “done”, etc. Can be identified using terms related to the future outlook of. , “Should”, “Would”, “Forecast”, “Forecast”, “Forecast”, “Forecast”, “Continued”, or a negation of these terms, or variations thereof, or similar terms. Information about the future outlook is based on reasonable assumptions, estimates, analyzes and opinions of Teranet’s management, in addition to other factors that Teranet’s management considers relevant. And it is reasonable on the day such statement is issued and is subject to known and unknown risks and uncertainties. These assumptions may not come true. As a result, actual future results may differ materially from those expressed or implied in forward-looking information, and Teranet’s business, financial position and results of operations may differ significantly from known and unknown risks and uncertainties. Many factors, including certainty, can be significant and detrimental. .. There are many factors, many of which are beyond the control of Terranet, and actual future results may differ materially from the expectations expressed in the forward-looking statements.

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TERANET has announced the end of the $ 500 million senior securities offering and the redemption of the 3.646% series. 2015-1 Senior Securities, Canadian Business Journal

Source link TERANET has announced the end of the $ 500 million senior securities offering and the redemption of the 3.646% series. 2015-1 Senior Securities, Canadian Business Journal

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