Business
H&R Completes $60 Million Senior Unsecured Debenture Financing
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES . ...
About this update from H&r Real Estate Investment Trust
[{"type":"text","content":"\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY\n CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW./\n\n\nTORONTO, Oct. 23, 2013 /CNW/ - H&R Real Estate Investment Trust (\"H&R\n REIT\") (TSX: HR.UN; HR.DB.D; HR.DB.E; HR.DB.H) announced today that it\n completed its previously announced offering of $60 million principal\n amount of floating rate Series I senior unsecured debentures due\n January 23, 2017 (the \"Series I Debentures\"). H&R REIT had previously\n agreed with a syndicate of agents led by TD Securities Inc. to sell the\n Series I Debentures on a private placement \"best efforts\" agency basis.\n The Series I Debentures have been issued at par, bear interest at a\n rate equal to 3-month CDOR plus 165 basis points payable quarterly in\n arrears and mature on January 23, 2017. The net proceeds of the\n offering will be used for the repayment of existing indebtedness and\n for general trust purposes.\n\n\nAbout H&R REIT\n\n\nH&R REIT is an open-ended real estate investment trust, which owns a\n North American portfolio of 41 office, 112 industrial and 165 retail\n properties comprising over 53 million square feet and 2 development\n projects, with a fair value of approximately $13 billion. In addition,\n H&R REIT has a one-third interest in ECHO Realty LP which owns 176\n properties totalling 7.4 million square feet. The foundation of H&R\n REIT's success since inception in 1996 has been a disciplined strategy\n that leads to consistent and profitable growth. H&R REIT leases its\n properties for long terms to creditworthy tenants and strives to match\n those leases with primarily long-term, fixed-rate financing.\n\n\nForward-looking Statements\n\n\nCertain information in this news release contains forward-looking\n information within the meaning of applicable securities laws (also\n known as forward-looking statements) including, among others,\n statements relating to the objectives of H&R REIT, strategies to\n achieve those objectives, H&R REIT's beliefs, plans, estimates, and\n intentions, and similar statements concerning anticipated future\n events, results, circumstances, performance or expectations that are\n not historical facts. Forward-looking statements generally can be\n ident...