Choice Properties Real Estate Investment Trust Completes $450 million Issuance of Series C and Series D Senior Unsecured Debentures

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[{"type":"text","content":"\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE\n UNITED STATES./\n\n\nBRAMPTON, ON, Feb. 6, 2014 /CNW/ - Choice Properties Real Estate\n Investment Trust (\"Choice Properties\" or the \"Trust\") (TSX: CHP.UN)\n announced today that it has completed its previously announced issuance\n of $450 million aggregate principal amount of senior unsecured\n debentures (the \"Debentures\") of the Trust (the \"Debenture Offering\").\n\n\nThe Debenture Offering was made under Choice Properties' short form base\n shelf prospectus dated September 3, 2013. The terms of the Debenture\n Offering are described in a prospectus supplement dated February 3,\n 2014, which was filed with securities regulators in each of the\n provinces of Canada.\n\n\nThe Debenture Offering included $250 million principal amount of series\n C senior unsecured debentures with a 7-year term and a coupon of 3.498%\n per annum and $200 million principal amount of series D senior\n unsecured debentures with a 10-year term and a coupon of 4.293% per\n annum.  DBRS Limited and Standard and Poor's Ratings Services have each\n provided the Debentures with a credit rating of \"BBB\". The Debentures\n rank equally with all other unsecured indebtedness of Choice Properties\n that has not been subordinated.\n\n\nThe net proceeds of the Debenture Offering will be used by the Trust to\n repay existing indebtedness and for general business purposes.\n\n\nThe Debenture Offering was sold on an agency basis co-led by CIBC, RBC\n Capital Markets, TD Securities and BMO Capital Markets.\n\n\nThe Debentures offered have not been registered under the U.S.\n Securities Act of 1933, as amended, and may not be offered or sold in\n the United States absent registration or an applicable exemption from\n the registration requirements. This press release shall not constitute\n an offer to sell or the solicitation of an offer to buy nor shall there\n be any sale of the Debentures in any jurisdiction in which such offer,\n solicitation or sale would be unlawful.\n\n\nAbout Choice Properties Real Estate Investment Trust\nChoice Properties Real Estate Investment Trust is an owner, manager and\n developer of well-located commercial real estate across Canada. Choice\n Properties' portfolio spans approximately 36.2 million square feet of\n gross leasable area and consis...

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