Toronto-based Granite Real Estate Investment Trust (Granite REIT) completed a $400 million green bond offering, issuing 6.074 percent Series 7 senior unsecured debentures due April 2029. The offering was managed by a syndicate of agents led by Scotia Capital Inc. and TD Securities Inc.

Granite utilized a cross-currency interest rate swap, converting the Canadian dollar payments to euros, yielding an effective fixed interest rate of 4.93 percent over the term.