TORONTO, March 04, 2020 (GLOBE NEWSWIRE) — RioCan Real Estate Investment Trust (âRioCanâ or the âTrustâ) (TSX: REI.UN ) is proud to announce today its Green Bond Framework. RioCan is the first REIT in Canada to establish a Green Bond Framework. Our aim is to finance sustainable investments or projects.
âAs a responsible community steward, we are proud to launch our Green Bond Framework. It is an important advancement in RioCanâs progress towards embedding sustainability practices across all aspects of our business,â said Edward Sonshine, Chief Executive Officer of RioCan. âOur Green Bond Framework enables us to raise capital in support of initiatives and activities as we grow and build for the future in an environmentally sustainable way.â
RioCanâs Green Bond Framework has been reviewed by Sustainalytics, a global leader in providing environmental, social and governance (ESG) research and analysis. Sustainalytics issued a second party opinion confirming that RioCanâs Green Bond Framework aligns with the International Capital Markets Association Green Bond Principles 2018.
To enable investors and other stakeholders to follow the development of RioCanâs green bond issuance and to gain insight into how net proceeds of a green bond issuance are used, RioCan will provide annual updates on its website and/or Annual Report until net proceeds of a green bond issuance are fully allocated to Eligible Green Projects. A copy of RioCanâs Green Bond Framework is available at https://investor.riocan.com/RioCan-Green-Bond-Framework-March-2020. To learn more about RioCanâs ongoing commitment to sustainability and to access related documents, please visit: www.riocan.com/about/sustainability
RioCan is one of Canadaâs largest real estate investment trusts, with a total enterprise value of approximately $15.0 billion as at December 31, 2019. RioCan owns, manages and develops retail-focused, increasingly mixed-use properties located in prime, high-density transit-oriented areas where Canadians want to shop, live and work. As at December 31, 2019, our portfolio is comprised of 220 properties with an aggregate net leasable area of approximately 38.4 million square feet (at RioCan’s interest) including office, residential rental and 14 development properties. To learn more about us, please visit www.riocan.com.
This press release does not constitute an offer to sell, or solicitation of an offer to buy, any RioCan securities or a recommendation to engage into any investment activity, in any jurisdiction or to any person or entity. No representations or warranties, express or implied, have been made as to the accuracy or completeness of the information in this press release and this press release should not be relied on in connection with, or act as any inducement in relation to, an investment decision.
This press release may contain forward-looking statements within the meaning of applicable securities laws. Such statements reflect RioCanâs current beliefs and are based on information currently available to us. These statements are not guarantees and are based on estimates and assumptions that are subject to risks and uncertainties. Actual events could differ materially from those projected herein and depend on a number of factors. Accordingly, prospective investors should not place undue reliance on forward-looking statements. All forward-looking statements herein are qualified by the foregoing cautionary statements. The forward-looking statements are made only as of the date of this document and we assume no obligation to update or revise them to reflect new information or the occurrence of future events or circumstances.
For further information contact:RioCan Real Estate Investment TrustQi TangSenior Vice President and Chief Financial Officer416-866-3033