Business
H&R Real Estate Investment Trust Announces $200MM Floating Rate Senior Unsecured Debenture Financing
  /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED S...
About this update from H&r Real Estate Investment Trust
[{"type":"text","content":"\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\nTORONTO, July 21, 2015 /CNW/ - H&R Real Estate Investment Trust (\"H&R REIT\") (TSX: HR.UN; HR.DB.D; HR.DB.E and HR.DB.H) is pleased to announce an offering, through a syndicate of agents co-led by RBC Capital Markets, TD Securities and CIBC, of $200 million principal amount of senior unsecured debentures (the \"Series K Debentures\"). The Series K Debentures will bear interest at a rate equal to 3-month CDOR plus 143 basis points, payable quarterly in arrears, and will mature on March 1, 2019.\n\nThe net proceeds from the offering of the Series K Debentures will be utilized by H&R REIT to repay outstanding indebtedness and for general trust purposes.\n\nDBRS Limited has provided H&R REIT with a provisional credit rating of BBB (high) with a stable trend relating to the Series K Debentures. Closing is expected to occur on or about July 28, 2015.\n\nThe offering of the Series K Debentures is being made under H&R REIT's existing short form base shelf prospectus dated April 30, 2015. The terms of the offering of the Series K Debentures will be described in a prospectus supplement to be filed with Canadian securities regulators.\n\nAbout H&R REIT\n\nH&R REIT is Canada's largest diversified real estate investment trust with total assets of approximately $13.5 billion as at March 31, 2015. H&R REIT is a fully internalized REIT and has ownership interests in a North American portfolio of high quality office, retail, industrial and residential properties comprising over 46 million square feet.\n\nForward-looking Statements\n\nCertain information in this news release contains forward-looking information within the meaning of applicable securities laws (also known as forward-looking statements) including, among others, statements relating to the expected date of closing for the offering, the objectives of H&R REIT, strategies to achieve those objectives, H&R REIT's beliefs, plans, estimates, and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Forward-looking statements generally can ...