Business
H&R REIT Announces $250 Million, Five-Year Unsecured Term Loan
H&R REIT Announces $250 Million, Five-Year Unsecured Term Loan H&R REIT An...
About this update from H&r Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\nH&R REIT Announces $250 Million, Five-Year Unsecured Term Loan\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\nH&R REIT Announces $250 Million, Five-Year Unsecured Term Loan\nCanada NewsWire\nTORONTO, March 7, 2019\n\n\n\nTORONTO, March 7, 2019 /CNW/ - H&R Real Estate Investment Trust (\"H&R\") (TSX: HR.UN) announced today that it has entered into a $250 million, committed five-year senior unsecured, non-revolving term loan (the \"Term Loan\") with a Canadian chartered bank. Unless otherwise extended, the Term Loan will mature in March 2024.\nH&R has, through an interest rate swap, fixed the Term Loan's interest payments at an all-in rate of 3.33% for the full five-year term. After the proceeds from the Term Loan have been used to repay existing bank indebtedness, H&R will have approximately $800 million of unused capacity under revolving credit facilities available with its existing lenders. H&R intends to use part of its available capacity under its credit facilities for general corporate purposes and to fund property development.\nAbout H&R REIT\nH&R REIT is one of Canada's largest fully internalized real estate investment trusts with total assets of approximately $14.7 billion at December 31, 2018. H&R REIT has ownership interests in a North American portfolio of high quality office, retail, industrial and residential properties comprising over 42 million square feet.\nForward-looking Statements\nCertain statements in this news release contain forward-looking information within the meaning of applicable securities laws (also known as forward-looking statements). These forward-looking statements include, but are not limited to, H&R's plans, objectives, expectations and intentions, including the repayment of existing bank indebtedness with the proceeds of the Term Loan and the use of H&R's available capacity under its bank facilities. Such forward-looking statements reflect H&R's current beliefs and are based on information currently available to management. These statements are not guarantees of future perfor...