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RioCan Real Estate Investment Trust Announces Offering of $200 Million of Series AP Senior Unsecured Debentures
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES RioCan ...
About this update from Riocan Real Estate Investment Trust
[{"type":"text","content":"RioCan Real Estate Investment Trust Announces Offering of $200 Million of Series AP Senior Unsecured Debentures\n\n\n\n\n\n\n NOT FOR DISTRIBUTION TO U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES\n \n\n\n\n RioCan Real Estate Investment Trust (“RioCan” or the “Trust”) (TSX: REI.UN) today announced that it has agreed to issue $200 million principal amount of Series AP senior unsecured debentures (the “Debentures”).\n \n\n The Debentures will be sold at a price of $100 per $100 principal amount, carry a coupon of 4.417% per annum and will mature on October 1, 2032.\n \n\n The net proceeds of the Debentures being offered will be used by the Trust to repay existing indebtedness at or prior to maturity. The balance of the net proceeds, if any, will be used for general business purposes.\n \n\n The Debentures are being offered on an agency basis by a syndicate of agents co-led by RBC Capital Markets, BMO Capital Markets, CIBC Capital Markets, Desjardins Capital Markets, Scotia Capital and TD Securities. Subject to customary closing conditions, the offering is expected to close on October 1, 2025.\n \n\n It is a condition of closing that Morningstar DBRS assign a rating of at least BBB with a stable trend for the Debentures.\n \n\n The offering is being made on a private placement basis in each of the provinces of Canada, and the Debentures will be issued pursuant to RioCan’s trust indenture dated March 8, 2005, as supplemented. The Debentures will rank equally with all other senior unsecured indebtedness of the Trust.\n \n\n The Debentures being offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.\n \n\n\n About RioCan\n \n\n\n RioCan meets the everyday shopping needs of Canadians through the ownership, management and development of necessity-based and mixed-use properties in densely populated communities. As at June 30, 2025, our portfolio is comprised of 178 properties with an aggregate net le...