EDMONTON, AB, May 23, 2024
/CNW/ - AIMCo Realty Investors LP ("AIMCo Realty") today announced
that it has concluded the sale of $450 million of
aggregate principal amount of Series 6 senior unsecured notes
maturing February 15, 2030 (the "Series 6 Notes") and
$450 million of aggregate
principal amount of Series 7 senior unsecured notes
maturing May 23, 2034 (the "Series 7 Notes", and together
with the Series 6 Notes, the "Notes"). The Notes are AIMCo
Realty's second and third green bond issuances pursuant to its
Green Financing Framework. The Notes were offered on an agency
basis by a syndicate of agents co-led by TD Securities Inc. and
Scotia Capital Inc. as Active Joint Bookrunners and CIBC World
Markets Inc. and RBC Dominion Securities Inc. as Joint
Bookrunners.
The Series 6 Notes have a coupon of 4.64% and are payable in
equal semi-annual installments on February
15 and August 15 in each year,
commencing August 15, 2024 (short first coupon) until the
maturity date. The Series 7 Notes have a coupon of 4.97% and are
payable in equal semi-annual installments on May
23 and November 23 in each year,
commencing November 23, 2024 until the maturity date. The
Notes are rated AA (low) by DBRS Limited.
AIMCo Realty intends to allocate the net proceeds of the
offering to fund the financing and/or refinancing of eligible green
projects as described in its Green Financing Framework, which is
available on Alberta Investment Management Corporation's
("AIMCo") website.
"We are pleased with the depth of interest from investors for
our green bond issuance. The proceeds will enable us to further our
objective of delivering strong, risk adjusted returns with durable
inflation protection, and deliver high quality sustainable real
estate developments that are positioned to perform well in the
future," said AIMCo's Executive Managing Director, Global Head of
Real Estate, Paul Mouchakkaa.
About AIMCo Realty
AIMCo Realty is the primary vehicle of Alberta Investment
Management Corporation (AIMCo) to invest in Canadian real estate on
behalf of AIMCo's public pension, endowment and government fund
clients. AIMCo Realty provides exposure to domestic real estate
through direct holdings diversified across property types and
geographies.
In keeping with its commitment to transparency, AIMCo's clients
and stakeholders will have the ability to assess AIMCo Realty's
progress on its green financing program through annual updates
posted to AIMCo's website until the net proceeds of any green
financing are fully allocated to eligible green projects. Copies of
AIMCo Realty's Green Financing Framework, and Sustainalytics'
second party opinion are available on
AIMCo's website.
Caution Regarding Forward Looking
Information
This press release contains forward-looking statements and
forward-looking information within the meaning of applicable
securities laws with respect to AIMCo Realty, AIMCO Realty's
expected investment in eligible green projects, and its operations,
strategy, financial performance and condition. The use of any of
the words "expect", "anticipate", "continue", "estimate",
"objective", "ongoing", "may", "will", "project", "should",
"believe", "plans", "intends", "goal" and similar expressions are
intended to identify forward-looking information or statements. The
forward-looking statements and information are based on certain key
expectations and assumptions made by AIMCo Realty, including
general economic conditions. Although AIMCo Realty believes that
the expectations and assumptions on which such forward-looking
statements and information are based are reasonable, undue reliance
should not be placed on the forward-looking statements and
information because AIMCo Realty can give no assurance that they
will prove to be correct. By its nature, such forward-looking
information is subject to various risks and uncertainties, which
could cause the actual results and expectations to differ
materially from the anticipated results or expectations expressed.
These risks and uncertainties include, but are not limited to,
risks related to: real property ownership; availability of cash
flow; competition for real property investments; government
regulation; interest rates and financing; environmental matters and
AIMCo Realty being unable to obtain any required financing and
approvals. Readers are cautioned not to place undue reliance on
this forward-looking information, which is given as of the date
hereof, and to not use such forward-looking information for
anything other than its intended purpose. AIMCo Realty undertakes
no obligation to update publicly or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, except as required by law.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, any AIMCo Realty securities in any
jurisdiction. A credit rating is not a recommendation to buy, sell
or hold securities and may be subject to revision or withdrawal at
any time.
About Alberta Investment Management
Corporation
AIMCo is one of Canada's
largest and most diversified institutional investment managers with
more than C$160.6 billion of assets
under management as at December 31,
2023. AIMCo invests globally on behalf of pension,
endowment, insurance, and government funds in the Province of
Alberta. With offices in
Edmonton, Calgary, Toronto, London, Luxembourg, New
York, and Singapore, our
more than 200 investment professionals bring deep expertise in a
range of sectors, geographies, and industries.
For more information on AIMCo please
visit www.aimco.ca or follow us
on LinkedIn.
SOURCE Alberta Investment Management Corporation