Sienna Announces Offering of $150 Million Aggregate Principal Amount of 4.436% Series D Senior Unsecured Debentures

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MARKHAM, Ontario, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Sienna Senior Living Inc. (“Sienna” or the “Company”) (TSX: SIA) announced today that it has agreed to issue $150 million aggregate principal amount of series D senior unsecured debentures (the “Debentures”). The Debentures, which will be issued at par, will bear interest at a rate of 4.436% per annum and will mature on October 17, 2029. The Debentures are being offered (the “Offering”) on a best efforts agency basis by a syndicate of agents co-led by BMO Nesbitt Burns Inc., TD Securities and CIBC Capital Markets, as joint lead agents and bookrunners. The Offering is expected to close on or about October 17, 2024, subject to customary closing conditions. It is a condition of closing that the Debentures be rated at least “BBB” with a “Stable” trend by Morningstar DBRS. The Debentures will be direct unsecured obligations of the Company and will rank equally and rateably with all other present and future unsecured and unsubordinated indebtedness of the Company.

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