Choice Properties Real Estate Investment Trust to Issue $450 million 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. 3, 2014 /CNW/ - Choice Properties Real Estate\n Investment Trust (\"Choice Properties\" or the \"Trust\") (TSX: CHP.UN)\n announced today that it has agreed to issue, on an agency basis, $450\n million aggregate principal amount of senior unsecured debentures (the\n \"Debentures\") of the Trust in two series (the \"Debenture Offering\").\n\n\nThe Debenture Offering is being made under Choice Properties' short form\n base shelf prospectus dated September 3, 2013. The terms of the\n Debenture Offering will be described in a prospectus supplement, dated\n February 3, 2014, to be filed with Canadian securities regulators in\n each of the provinces of Canada.\n\n\nThe Debenture Offering is expected to close on February 6, 2014.\n\n\nThe Debenture Offering includes $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.  The Debentures have been provisionally rated \"BBB\" by DBRS\n Limited and the same rating is expected from Standard and Poor's\n Ratings Service. The Debentures will rank equally with all other unsecured indebtedness\n of the Trust 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 Debentures are being offered 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. Ch...

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