Choice Properties Announces Redemption of $300 million of 3.00% Series 5 Debentures

About this update from Choice Properties Real Estate Investment Trust

[{"type":"text","content":"\n\n\n\nChoice Properties Announces Redemption of $300 million of 3.00% Series 5 Debentures\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nChoice Properties Announces Redemption of $300 million of 3.00% Series 5 Debentures\nCanada NewsWire\nTORONTO, Feb. 4, 2016\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./\n\n\n\nTORONTO, Feb. 4, 2016 /CNW/ - Choice Properties Real Estate Investment Trust (\"Choice Properties\" or the \"Trust\") (TSX: CHP.UN) announced today that its operating subsidiary, Choice Properties Limited Partnership (the \"Partnership\"), has provided holders of its 3.00% Series 5 debentures due April 20, 2016 (the \"Debentures\") a notice of redemption pursuant to which the Partnership will redeem the entire outstanding principal amount of Debentures on March 7, 2016 and has fixed March 4, 2016 as the record date for this redemption. As of the date hereof, there is $300 million aggregate principal amount of Debentures outstanding.\n\nOn the redemption date, the Debentures will be redeemed in accordance with their terms at a redemption price per $1,000 principal amount of the Debentures equal to $1,000 plus accrued and unpaid interest to but excluding the redemption date of $11.32764429, and will thereafter cease to be outstanding.\n\nAbout Choice Properties Real Estate Investment TrustChoice Properties Real Estate Investment Trust is an owner, manager and developer of well-located retail and commercial real estate across Canada. Choice Properties' portfolio spans approximately 41.6 million square feet of gross leasable area and consists of 519 properties primarily focused on supermarket and drug store anchored shopping centres and stand-alone supermarkets and drug stores. Choice Properties' strategy is to create value by enhancing and optimizing its portfolio through development, accretive acquisitions and active property management. Choice Properties' principal tenant and largest unitholder is Loblaw Companies Limited, Canada's largest retailer. Choice Properties' strong alli...

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