First Capital REIT Announces C$200 Million Offering of Series A Senior Unsecured Debentures

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[{"type":"text","content":"\n\n\n\nFirst Capital REIT Announces C$200 Million Offering of Series A 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, Aug. 25, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n TORONTO, Aug. 25, 2020 /CNW/ - First Capital Real Estate Investment Trust (\"First Capital\" or the \"Trust\") (TSX:FCR.UN), a leading developer, owner and manager of mixed-use real estate located in Canada's most densely populated cities, announced today that it has agreed to issue C$200 million aggregate principal amount of Series A senior unsecured debentures (the \"Debentures\").\nThe Debentures are being offered on an agency basis by a syndicate of agents co-led by TD Securities, RBC Capital Markets and BMO Capital Markets. The Debentures, which will be issued at par, will bear interest at a rate of 3.447% per annum and will mature on March 1, 2028. Subject to customary closing conditions, the offering is expected to close on September 1, 2020. It is a condition of closing that the Debentures be rated at least \"BBB-\" by S&P Global Ratings and at least \"BBB (stable)\" 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 Trust's trust indenture dated as of May 25, 2020, as supplemented. The Debentures will be direct unsecured obligations of the Trust and will rank equally and rateably with all other present and future unsecured and unsubordinated indebtedness of the Trust.\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 jurisdi...

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