TORONTO, ONTARIO, 2017-Jan-18 — /EPR Retail News/ — RioCan Real Estate Investment Trust (“RioCan”) (TSX:REI.UN) announced today (01/16/2017) that it has successfully completed its issuance of $300 million principal amount of Series Y senior unsecured debentures (the “Debentures”). The agency syndicate was co-led by RBC Capital Markets, TD Securities and BMO Capital Markets. The Debentures carry a coupon rate of 2.83% and will mature on October 3, 2022. The Debentures were sold at a price of $99.997 per $100 principal amount with an effective yield of 2.831% if held to maturity.
The offering was made under RioCan’s base shelf short form prospectus dated August 10, 2016. The terms of the offering are described in a prospectus supplement dated January 11, 2017, which was filed with Canadian securities regulators.
About RioCan:
RioCan is Canada’s largest real estate investment trust with a total enterprise value of approximately $15 billion as at September 30, 2016. RioCan owns and manages Canada’s largest portfolio of shopping centres with ownership interests in a portfolio of 301 Canadian retail and mixed use properties, including 15 properties under development, containing an aggregate net leasable area of 47 million square feet. For further information, please refer to RioCan’s website at www.riocan.com.
Contact Information:
RioCan Real Estate Investment Trust
Cynthia J. Devine
Executive Vice President, Chief Financial Officer and
Corporate Secretary
(647) 253-4973
(647) 253-4973
Source: RioCan