Business
RioCan Real Estate Investment Trust Announces Offering of $200 Million of Series AQ Senior Unsecured Debentures
Morningstar DBRS Confirms BBB Credit Ratings and Changes Trend to Positive from Stable 7-...
About this update from Riocan Real Estate Investment Trust
[{"type":"text","content":"RioCan Real Estate Investment Trust Announces Offering of $200 Million of Series AQ Senior Unsecured Debentures\n\n\n .bwlistdisc { list-style-type: disc }\n \n\n\n\n\n\n Morningstar DBRS Confirms BBB Credit Ratings and Changes Trend to Positive from Stable\n \n\n\n\n 7-Year Unsecured Debentures with an Annual Coupon Rate of 4.308%\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 AQ 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 4.308% per annum and will mature on March 11, 2033.\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 TD Securities, Desjardins Capital Markets, RBC Capital Markets, BMO Capital Markets, CIBC Capital Markets and Scotia Capital. Subject to customary closing conditions, the offering is expected to close on March 11, 2026.\n \n\n Morningstar DBRS confirmed the Issuer Rating and Senior Unsecured Debentures credit rating of RioCan at BBB and changed the trend to Positive from Stable. It is a condition of closing that Morningstar DBRS assign a rating of at least BBB with a Positive 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 jur...