Sienna Announces Completion of $175 Million Offering of 3.45% Series B Senior Unsecured Debentures and Closing of $100 Million Secured Term Credit Facility
NOT FOR DISSEMINATION TO
Contemporaneous with the closing of the Offering, Sienna entered into a
Sienna will use the net proceeds from the Offering and the Credit Facility, together with other sources of liquidity, for general corporate purposes and to repay existing indebtedness, including the redemption of all of the outstanding 3.474% Series B Senior Secured Debentures due
“The closings of a combined
The Debentures were sold by way of a private placement in each of the provinces of
The Debentures have not been registered under the
About
Forward-Looking Information
This news release may contain forward-looking statements (within the meaning of applicable securities laws) relating to the business of Sienna and the environment in which it operates. Forward-looking statements are identified by words such as “believe”, “anticipate”, “project”, “expect”, “intend”, “plan”, “will”, “may” “estimate”, “pro-forma” and other similar expressions. These statements are based on Sienna’s expectations, estimates, forecasts and projections and include, without limitation, statements with respect to the intended use of proceeds from the Offering and the Credit Facility. The forward-looking statements in this news release are based on certain assumptions. Such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, the factors discussed under the heading “Risk Factors” in Sienna’s most recent annual information form available at www.sedar.com. There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, Sienna assumes no obligation to publicly update any such statement, whether as a result of new information, future events or otherwise.
For further information, please contact:
Chief Financial Officer & Senior Vice President
(905) 489-0254
karen.hon@siennaliving.ca
Senior Vice President, Public Affairs and Marketing
(905) 415-7623
nancy.webb@siennaliving.ca
Source: Sienna Senior Living