DBRS Assigns AA (low) Ratings to OMERS Realty Corporation’s CAD 250 Million Series 10 Senior Unsecured Debentures and CAD 550 Million Series 11 Senior Unsecured Debentures with Stable Trends

DBRS Limited (DBRS) assigned ratings of AA (low) to OMERS Realty Corporation’s (ORC or the Company) $250 million 3.331% Series 10 Senior Unsecured Debentures due June 5, 2025 (the Series 10 Debentures), and $550 million 3.628% Series 11 Senior Unsecured Debentures due June 5, 2030 (the Series 11 Debentures), with Stable trends.

The Series 10 Debentures and the Series 11 Debentures are direct unsecured obligations of ORC and rank pari passu with all other present and future unsecured and unsubordinated indebtedness of the Company. The Series 10 Debentures and the Series 11 Debentures are not guaranteed by OMERS Administration Corporation (rated AAA with a Stable trend by DBRS).

DBRS understands that the net proceeds from the offering will be used to repay certain indebtedness of ORC.

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

The principal methodologies are Rating Entities in the Real Estate Industry (April 2018) and DBRS Criteria: Guarantees and Other Forms of Support (January 2018), which can be found on dbrs.com under Methodologies.

The rated entity or its related entities did participate in the rating process for this rating action. DBRS had access to the accounts and other relevant internal documents of the rated entity or its related entities in connection with this rating action.

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