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H&R Announces $300MM Private Placement of Senior Unsecured Debentures
H&R Announces $300MM Private Placement of Senior Unsecured Debentures H&...
About this update from H&r Real Estate Investment Trust
[{"type":"text","content":"\n \n \n \n H&R Announces $300MM Private Placement of 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 \n \n \n \n \n H&R Announces $300MM Private Placement of Senior Unsecured Debentures\n \n \n Canada NewsWire\n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.  ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW./\n \n \n \n TORONTO\n \n ,\n \n Feb. 17, 2021\n \n /CNW/ - H&R Real Estate Investment Trust (\"H&R REIT\" or \"H&R\") (TSX: HR.UN) is pleased to announce it has entered into an agreement to sell on a private placement \"best efforts\" agency basis, to a syndicate of agents co-led and bookrun by Scotia Capital Inc. and CIBC World Markets Inc., and including BMO Capital Markets, TD Securities Inc. and National Bank Financial Inc.,\n \n $300 million\n \n principal amount of senior unsecured debentures (the \"Series S Debentures\"). The Series S Debentures will be issued for\n \n $100.00\n \n per\n \n $100.00\n \n principal amount, carry a coupon rate of 2.633% and will mature on\n \n February 19, 2027\n \n .\n \n \n Subject to customary closing conditions, the offering is expected to close on or about\n \n February 19, 2021\n \n . It is a condition of closing to the offering that the debentures be rated at least BBB (high) by DBRS. The offering is on a private placement basis and the debentures will be issued pursuant to H&R REIT's trust indenture dated February 3, 2010 as supplemented. These debentures will rank\n \n pari passu\n \n with H&R REIT's outstanding senior unsecured debentures.\n \n \n The net proceeds of the offering will be used for the repayment of outstanding indebtedness and for general trust purposes.\n \n \n The debentures 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 exemption from the registration requirements. This press release shall not constitute an of...