DBRS Rates ORC’s $565 Million Series 5 and 6 Senior Unsecured Debentures at AA (low)

DBRS Limited has today assigned a rating of AA (low) with a Stable trend to OMERS Realty Corporation’s (ORC or the Company) $565 million Senior Unsecured Debentures (the Debentures) issuance, which includes:

(1) Five-year $250 million 2.473% Series 5 Senior Unsecured Debentures, due November, 12, 2019
(2) Ten-year $315 million 3.328% Series 6 Senior Unsecured Debentures, due November 12, 2024

The Debentures are direct unsecured obligations of ORC and rank pari passu with all other present and future unsecured and unsubordinated indebtedness of the Company. ORC intends to use the proceeds from the offering to repay certain indebtedness of the Company.

Notes:
All figures are in Canadian dollars unless otherwise noted.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

The applicable methodology is Rating Entities in the Real Estate Industry (October 2013), which can be found on our website under Methodologies.