Toronto, Ontario--(Newsfile Corp. - September 25, 2026) - Vital Infrastructure Property Trust (TSX: VITL.UN) ("Vital Infrastructure" or the "REIT") announced today that it has priced a private placement offering (the "Offering") of $300 million aggregate principal amount of 4.865% Series C senior unsecured debentures, maturing on October 15, 2029 (the "Series C Debentures"). Closing of the Offering is expected to occur on or about October 13, 2026. The Series C Debentures will be issued at a price of $1,000 per $1,000 principal amount of Series C Debentures. The Offering is being made through a syndicate of agents co-led by RBC Capital Markets, Scotiabank and National Bank of Canada Capital Markets, together with TD Securities, BMO Capital Markets, CIBC Capital Markets, and Desjardins Securities. It is expected that the Series C Debentures will be rated "BBB" (low) with a stable trend by Morningstar DBRS.
The REIT also announced that it intends to redeem in full all of its outstanding 6.25% Series H convertible unsecured subordinated debentures (the "Series H Convertible Debentures") due August 31, 2027 (the "Redemption"). Formal notice of the Redemption, which is expected to be completed on October 26, 2026, is being delivered today to CDS & Co., the registered holder of the Series H Convertible Debentures, and to Computershare Trust Company of Canada, as trustee, in accordance with the terms of the trust indenture for the Series H Convertible Debentures.
The Series C Debentures are being offered on a private placement basis in each of the provinces of Canada in reliance upon exemptions from the prospectus requirements under applicable securities legislation. The Series C Debentures will be direct senior unsecured obligations of the REIT and will rank equally and rateably with one another and with all other unsecured and unsubordinated indebtedness of the REIT, except to the extent prescribed by law. The net proceeds of the Offering will be used to repay outstanding indebtedness including the early redemption of the Series H Convertible Debentures and for general corporate purposes.
The Series C Debentures have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered, sold or delivered, directly or indirectly, in the United States or to, or for the account or benefit of, U.S. Persons except pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Series C Debentures in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Vital Infrastructure
Vital Infrastructure Property Trust (TSX: VITL.UN) provides investors with access to a portfolio of high-quality international healthcare real estate infrastructure. As at June 30, 2026, the REIT held interests in a diversified portfolio of 104 income-producing properties totaling 11.1 million square feet of gross leasable area located throughout major markets in North America, Brazil, Europe and Australia. The REIT's portfolio of outpatient, inpatient, and other health research facilities is characterized by long-term indexed leases and stable occupancies. Vital Infrastructure leverages its global workforce in six countries to serve as a long-term real estate partner to leading healthcare operators. For additional information, please visit www.vitalreit.com.
Contacts
Zach Vaughan, Chief Executive Officer, Zach.Vaughan@vitalreit.com
Stephanie Karamarkovic, Chief Financial Officer, Stephanie.Karamarkovic@vitalreit.com
Steven Hong, Vice President, Investor Relations, Steven.Hong@vitalreit.com, investors@vitalreit.com, (905) 229-9266
Forward-Looking Statements
Certain statements contained in this news release constitute forward-looking information within the meaning of applicable securities laws. The forward-looking information in this news release includes statements regarding the strength of our high-quality international healthcare real estate infrastructure, the REIT's portfolio of outpatient, inpatient, and other health research facilities, and its global workforce. In addition, statements relating to the redemption of the Series H Convertible Debentures, the closing and benefits of the Offering constitute forward-looking information including the strengthening of the REIT's financial position, and the use of proceeds to redeem the Series H Convertible Debentures and general corporate purposes. The REIT has based these forward-looking statements on factors and assumptions about future events and financial trends that it believes may affect its financial condition, financial performance, business strategy and financial needs. These assumptions include, but are not limited to, the closing of the Offering and use of proceeds therefrom to repay outstanding indebtedness and redeem in full the Series H Convertible Debentures will occur as planned, and those relating to the REIT's business including interest rates remaining stable or decreasing, the REIT's properties continuing to perform, and currency exchange rates remaining stable. Although the forward-looking statements contained in this news release are based on assumptions that management of the REIT believe are reasonable, there can be no assurance that actual results will be consistent with these forward-looking statements. Forward-looking statements necessarily involve known and unknown risks and uncertainties, many of which are beyond the REIT's control, including, among other things, the risks that the Offering and deployment of the proceeds therefore will not occur as planned and the REIT does not realize the benefits noted in this news release, as well as the business and industry risks identified in the REIT's annual information form and latest MD&A filed under the REIT's SEDAR+ profile at www.sedarplus.ca.The forward-looking statements in this news release relate only to events or information as of the date hereof. Except as required by applicable Canadian securities laws, the REIT undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated event.
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