Choice Properties Real Estate Investment Trust Completes $350 million Issuance of Series G and Series H Senior Unsecured Debentures

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[{"type":"text","content":"\n\n\n\nChoice Properties Real Estate Investment Trust Completes $350 million Issuance of Series G and Series H Senior Unsecured 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\n\n\n\n\n\nChoice Properties Real Estate Investment Trust Completes $350 million Issuance of Series G and Series H Senior Unsecured Debentures\nCanada NewsWire\nTORONTO, March 7, 2016\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./\n\n\n\nTORONTO, March 7, 2016 /CNW/ - Choice Properties Real Estate Investment Trust (\"Choice Properties\" or the \"Trust\") (TSX: CHP.UN) announced today that it has completed its previously announced issuance of $350 million aggregate principal amount of senior unsecured debentures of the Trust in two series. The offering included (i) $250 million aggregate principal amount of series G senior unsecured debentures bearing interest at a rate of 3.196% per annum and maturing on March 7, 2023 and (ii) $100 million aggregate principal amount of series H senior unsecured debentures bearing interest at a rate of 5.268% per annum and maturing on March 7, 2046 (collectively, the \"Debentures\").\n\nThe offering was made under Choice Properties' short form base shelf prospectus dated October 14, 2015. The terms of the offering are described in a prospectus supplement dated March 1, 2016, which was filed with securities regulators in each of the provinces of Canada.\n\nThe net proceeds of the Debentures will be used by the Trust to repay existing indebtedness and for general business purposes.\n\nDBRS Limited and Standard and Poor's Ratings Services have each provided the Debentures with a credit rating of \"BBB\". The Debentures rank equally with all other unsecured indebtedness of Choice Properties that has not been subordinated.\n\nThe Debentures were sold on an agency basis by a syndicate of agents co-led by TD Securities, CIBC Capital Markets, RBC Capital Markets and BMO Capital Markets. The Debentures offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the Uni...

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