Business
RioCan Real Estate Investment Trust Completes $200 Million Issuance of Series AQ Senior Unsecured Debentures
Morningstar DBRS Confirms BBB Credit Ratings and Changes Trend to Positive from Stable Th...
About this update from Riocan Real Estate Investment Trust
[{"type":"text","content":"RioCan Real Estate Investment Trust Completes $200 Million Issuance 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 The closing of this seven-year debenture issuance aligns with the financing plan outlined at Investor Day and supports a well-distributed debt maturity profile\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 completed its previously announced issuance of $200 million principal amount of Series AQ senior unsecured debentures (the “Debentures”). The Debentures were sold at a price of $100 per $100 principal amount, carry a coupon rate of 4.308% per annum, are payable semi-annually in arrears, and mature on March 11, 2033.\n \n\n The net proceeds of the Debentures 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 were 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.\n \n\n Morningstar DBRS assigned the Debentures a credit rating of BBB with a Positive trend.\n \n\n The Debentures were issued pursuant to RioCan’s trust indenture dated March 8, 2005, as supplemented. The Debentures rank equally with all other senior unsecured indebtedness of the Trust.\n \n\n The Debentures 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 retail properties in densely populated communit...