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H&R announces $200 million senior unsecured credit facility
H&R announces $200 million senior unsecured credit facility H&R announces ...
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[{"type":"text","content":"\n\n\n\nH&R announces $200 million senior unsecured credit facility\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.prngen2{\nBORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: TOP; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt\n}\n.prngen3{\nBORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n\n\n\n\n\n\nH&R announces $200 million senior unsecured credit facility\nCanada NewsWire\nTORONTO, March 17, 2016\n\n\n\nTORONTO, March 17, 2016 /CNW/ - H&R Real Estate Investment Trust (\"H&R REIT\") (TSX: HR.UN; HR.DB.D; HR.DB.E; HR.DB.H) announced today that it has entered into a new senior unsecured credit facility for up to $200 million with Bank of Montreal (the \"Credit Facility\"), available on a non-revolving basis, maturing March 17, 2021 with no scheduled principal repayments prior to maturity. The Credit Facility will bear interest at a floating rate of CDOR or LIBOR plus 1.2% per year. H&R REIT has immediately drawn down U.S.$140 million and C$18.2 million on the Credit Facility to repay other revolving credit facilities.  \n\nH&R REIT also announced that it has entered into interest rate swap agreements which effectively fix the interest rate on:\n\n\n\n\n(i) \n\n\nU.S.$130 million of the U.S. dollar portion of the Credit Facility draw down at 2.56% per annum;\n\n\n\n\n\n\n(ii) \n\n\nthe $60 million floating rate Series I Senior Debentures maturing in January 2017 at 2.54% per annum; \n\n\n\n\n\n\n(iii) \n\n\nthe U.S. $125.0 million floating rate Series J Senior Debentures maturing in February 2018 at 2.04% per annum; and \n\n\n\n\n\n\n(iv) \n\n\nthe $200 million floating rate Series K Senior Debentures maturing in March 2019 at 2.36% per annum (collectively, the \"Senior Debentures\"). \n\n\nSuch i...