First Capital Realty Announces C$300 Million Offering of Series U Senior Unsecured Debentures

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[{"type":"text","content":"\n\n\n\nFirst Capital Realty Announces C$300 Million Offering of Series U 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 5, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n\n\n\nTORONTO, July 5, 2017 /CNW/ - First Capital Realty Inc. (TSX:FCR) (the \"Company\"), one of Canada's largest owners, developers and managers of grocery anchored retail-focused urban properties, announced today that it has agreed to issue C$300 million aggregate principal amount of Series U senior unsecured debentures (the \"Debentures\").\n\nThe Debentures are being offered on an agency basis by a syndicate of agents co-led by TD Securities, RBC Capital Markets and Scotiabank. The Debentures, which will be issued at par, will bear interest at a rate of 3.753% per annum and will mature on July 12, 2027. Subject to customary closing conditions, the offering will close on July 10, 2017. It is a condition of closing that the Debentures be rated at least Baa2 (stable) by Moody's Investors Service, Inc. and at least BBB (high) with a stable trend by DBRS Limited.\n\nThe offering is being made under the Company's base shelf prospectus dated October 7, 2016, 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.\n\nThe net proceeds of the offering will be used to repay amounts outstanding on the Company's unsecured revolving credit facility and for general corporate purposes, including investments.\n\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 off...

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