First Capital Realty Announces C$200 Million Offering of Series V Senior Unsecured Debentures

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[{"type":"text","content":"\n\n\n\nFirst Capital Realty Announces C$200 Million Offering of Series V 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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, July 11, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n TORONTO, July 11, 2019 /CNW/ - First Capital Realty Inc. (\"FCR\" or the \"Company\") (TSX:FCR), one of the largest owners, developers and operators of necessity-based real estate located in Canada's most densely populated urban centres, announced today that it has agreed to issue C$200 million aggregate principal amount of Series V senior unsecured debentures (the \"Debentures\").\nThe Debentures are being offered on an agency basis by a syndicate of agents co-led by RBC Capital Markets, TD Securities, BMO Capital Markets and Scotiabank. The Debentures, which will be issued at par, will bear interest at a rate of 3.456% per annum and will mature on January 22, 2027. Subject to customary closing conditions, the offering is expected to close on July 22, 2019. It is a condition of closing that the Debentures be rated at least Baa3 (stable) by Moody's Investors Service, Inc. and at least BBB – Under Review with Developing Implications by DBRS Limited.\nThe offering is being made on a private placement basis in certain provinces of Canada, and the Debentures will be issued pursuant to the Company's trust indenture dated June 21, 2005, as supplemented. The Debentures will rank pari passu with the Company's outstanding senior unsecured debentures.\nThe net proceeds of the offering will be used to repay existing debt.\nThe securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicit...

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