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

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[{"type":"text","content":"\n\n\n\n First Capital REIT Announces C$200 Million Offering of Series D Senior Unsecured Debentures\n \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 Canada NewsWire\n \n\n\n\n\n /NOT FOR DISTRIBUTION IN\n \n THE UNITED STATES\n \n OR OVER\n \n UNITED STATES\n \n WIRE SERVICES/\n \n\n\n\n\n TORONTO\n \n\n ,\n \n\n Oct. 30, 2024\n \n\n /CNW/ - First Capital Real Estate Investment Trust (\"First Capital\" or the \"REIT\") (TSX: FCR.UN) announced today that it has agreed to issue\n \n C$200 million\n \n aggregate principal amount of Series D senior unsecured debentures (the \"Debentures\").\n \n\n\n\n\n\n\n\n\n The Debentures are being offered on an agency basis by a syndicate of agents co‐led by Desjardins Capital Markets, RBC Capital Markets and TD Securities. The Debentures, which will be issued at a price of\n \n $99.995\n \n per\n \n $100.00\n \n principal amount of Debentures, will bear interest at a rate of 4.513% per annum and will mature on\n \n June 3, 2030\n \n . Inclusive of the benefit of bond forward hedges, the REIT's all-in interest rate will be approximately 4.47% per annum. Subject to customary closing conditions, the offering is expected to close on\n \n November 1, 2024\n \n . It is a condition of closing that the Debentures be rated at least \"BBB (positive)\" by DBRS.\n \n\n The offering is being made on a private placement basis in each of the provinces of\n \n Canada\n \n , and the Debentures will be issued pursuant to the REIT's trust indenture dated as of\n \n May 25, 2020\n \n , as supplemented. The Debentures will be direct unsecured obligations of the REIT and will rank equally and rateably with all other present and future unsecured and unsubordinated indebtedness of the REIT.\n \n\n The net proceeds of the offering will be used to repay existing debt and for general business purposes.\n \n\n The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in\n \n the United States\n \n absent registration or an applicable exemptio...

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